Quote:
Originally Posted by troutman
This is starting to happen in The Pass. Long time locals are being priced out.
AI Overview
Increased Demand and Rising Prices: The Crowsnest Pass has become a desirable place to relocate, partly due to its attractiveness as a weekend/recreational destination, which has increased overall housing demand. This high demand has driven up prices, with the total assessed value of properties growing by over 11% between 2022 and 2024 alone.
Strain on Long-Term Housing Supply: Properties converted into tourist homes or STRs are removed from the long-term rental and resale markets, intensifying housing scarcity for permanent residents. Studies across Canada confirm a direct correlation between the proliferation of STRs and housing affordability challenges.
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STRs are a problem in Canmore, too. That's a different issue from second homes. AirBnBs are the exact type and price of home that would be great for full-time residents working low paying jobs. The Town should definitely focus on that.