As someone who has called the Shuswap home for nearly two decades and worked in real estate for over 25 years, I see firsthand how crucial a steady supply of new homes is to our communities—whether you're looking to buy your first property or invest for the future. Recent data reveals Canada needs 417,000 to 469,000 new housing starts every year until 2036 just to bring affordability back to where it was before the pandemic. What stands out is that, while we're seeing more rental units come online in major markets, the pace of new ownership housing construction has slowed significantly. Even with population growth easing off, the slowdown in building activity has outpaced the dip in demand, leaving us vulnerable when the market picks up again. The lesson? To keep homeownership within reach for families across regions like Salmon Arm, Sicamous, and beyond, we need to prioritize building ownership-oriented homes now—otherwise, the affordability gains we've seen could be short-lived. With my background in both property management and financial analysis, I keep a close eye on how these trends impact our local real estate landscape.
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