CALGARY (660 NEWS) – If Albertans can’t buy a home then industry can’t build them.
That’s what the Building Industry and Land Development (BILD) association in Alberta said after releasing figures Wednesday showing job losses across the province as a result of a decline in those purchasing a home.
According to a release from BILD, there are more than 5,000 unabsorbed new homes on the market, resulting in a significant reduction in housing starts. BILD said that new mortgage rules have cooled the housing market across the country and future policy changes such as Bill 32 could hurt the industry more.
CEO of BILD Alberta Carmen Wyton hopes that changes will be made to prevent further job losses.
“If we can’t get the price of houses in check and ensure that the long-term horizon on that pricing structure is not predictable, Albertans aren’t going to buy homes and people will lose their jobs.”
Wyton said many of BILD’s members are reporting layoffs of up to 25 per cent and a reduction in work orders of up to 50 per cent.
She said the job losses aren’t just hurting the big builders and developers.
“Residential construction is a unique industry. Eighty per cent of it is actually tradespeople, contractors, subcontractors, small businesses, suppliers. Those are the people that are sweating now because of the decline.”
As a result of these numbers, BILD has written to all MLAs in Alberta and set up a group that will work on alternative funding models to present to city government’s