Featured

“This isn’t a situation anyone asked for. Decisions made long before now have placed citizens in a very difficult spot.”

So far this year, 740 brand-new condo units have come onto the Kelowna real estate market.

Cities that don’t meet the housing target could face consequences from the province.

The Central Okanagan's population is expected to hit 260,000 by next year and 322,000 by 2041.

Some might assume someone famous is going to buy these mansions, but it’s usually someone whose wealth has a less glamorous origin.

While sales slump, prices hold steady.

He signed the deal to sell but got cold feet as housing prices surged.

“It's nice to see these attempts to try to create a balance between this pressure to have more and more people living in Kelowna and the desire to have at least some natural aspects of our environment.”

The motel in the centre of Vernon has been around for decades.

Rents are capped at 30 per cent of incomes between $80,000 and $120,000 per year, or roughly $2,000 to $3,000 a month for the 78 units.

It was supposed to be a quick and easy investment, it is far from that.

“There were a number of residents out there where this was their primary home, and so they've been displaced. We know of one already that has had to foreclose on her mortgage because she cannot pay rent and continue to make her mortgage payments."

Common advice for renters is to spend less than 30 per cent of their monthly income on rent, and it turns out most British Columbians aren’t able to follow that rule.