Impacts of Northern Megaprojects Swamp Alberta's Housing Industry

13 January 2006 - 11:00am

While housing demand in the rest of Canada cools, Alberta homebuilders can't keep up with demand, and are literally turning homebuyers away because of shortages of materials and labour.

"Alberta's new-home industry is running out of everything -- including the kitchen sink -- as it scrambles to keep up with an unprecedented boom in demand that is sending real estate prices soaring."

"Concrete for foundations has been rationed. Lumber is in short supply. Inventories of cabinets, water pipes and, one builder says, kitchen sinks and plumbing fixtures are all being drained. And, then there is the worst shortage of all: The skilled hands to build the bungalows, condos and dream mansions to accommodate Alberta's swelling population."

Source: The Globe and Mail, January 11, 2006
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"This ends up being, to be sure, a second best alternative, but it's better than the third best alternative, which is to do nothing." -- Jerold Kayden