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CALGARY _ There are signs that Alberta's once-hot housing market may be cooling off.
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% k* q8 ^5 e2 D( ]$ PJayman Masterbuilt, one of the province's leading new home builders, has announced that it's laid off 50 staff in Calgary and Edmonton. Company spokeswoman Marcia Buchholz says it's a direct result of less demand for new homes.. Q7 A& @+ w, E* W/ l9 h0 b& a( r
8 V% `; m/ j& S+ {8 uNorm Mross, president of the Calgary division of the Canadian Homebuilders Association, says he expects a 30 per cent drop in the demand for skilled labour. Canada Mortgage and Housing says construction of single-family homes has fallen 46 per cent in Calgary this year.
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8 q& y4 h5 Z% N- y; dThe developer of a large condominium project has also announced that it's shelving plans for two large highrises near Calgary's downtown, saying the construction costs are now insurmountable. (The Canadian Press, CHQR, ccg) |
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