Hot housing market in quaint B.C. ski town represents wider affordability woes

The new year is ushering in dramatic price increases for smaller communities that have already seen relentless growth in their housing markets. The average cost of a single-family home in Rossland jumped 33 per cent from $380,000 to $504,000 between July, 2020, and July, 2021, according to data released from B.C. Assessments in January.

“Anecdotally what we’re hearing is that with more people being able to work remotely, folks who want to make lifestyle choices are going, ‘Hmmm, maybe I like the idea of skiing at the resort here.’” “It’s going to be tough for him to afford a house in Rossland,” said Mr. Swain, who says many local businesses simply can’t offer the kinds of wages needed to live in the community.

A four-storey development near downtown Rossland will house 37 affordable rental units, as well as a new city hall. It's one of multiple projects the Lower Columbia Affordable Housing Society is working on.However, Rossland City Councillor Janice Nightingale says municipalities often have their hands tied when it comes to controlling housing markets, since provinces and the federal government generally have more power to implement policies such as B.C.

As intense demand drives up pricing in places such as Nelson and Rossland, home buyers have started spilling into Castlegar as a community that’s close enough to the action while being cheaper.

We need to get rid of airbnbs. They are taking over every town in BC. It doesn't take much to see the hundreds of short term rentals compared to long term. Yet no one wants to touch airbnb why is that? Oh yeah the $$$

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How convoy protests could affect Canada’s housing market‘Safety and security and tolerance are the qualities that make Canada ... stand out on the world stage,’ says Royal LePage CEO. Of course they will ... FU Why this is happening in Canadian media is THE story! Canadian Media is completely biased! Look at their narrative vs the international media coverage!! That is the real story…CBC and CTV are Gaslighting Liberal propaganda machines!! blackfacehitler Propaganda narrative media, counters the reality Canadians are experiencing, struggling with and face. The inflation, increase taxes, interests raises, CERB and 15% layoffs from mandatory vaccinations. cdnpoli cdnmedia Canada
Source: TorontoStar - 🏆 60. / 55 Read more »

'Disgusted': Small B.C. business takes a hit in attack at Coastal GasLink siteNorthwest Truck Rentals had three pickup trucks and another vehicle damaged in the attack, with the estimated cost of repair being $15,000 to $20,000 for each… So it has gone from 20 people who attacked to now 20 to 40 🙄🤔 axes would not cause that kind of damage and would have broken the window that the one person claimed did not break.
Source: VancouverSun - 🏆 49. / 61 Read more »