It’s hard to believe February has already arrived and there is no better time than right now to take a joyride on the prognostication roller coaster. Hang on to your seats folks.
Let’s start with the sweltering real estate market. Housing prices in Squamish will continue to head into the stratosphere, mainly because demand is being driven by our unparalleled location and the red-hot greater Vancouver housing sector.
And when it comes to rental units, the concept of reasonably priced accommodations has already lurched into oxymoron territory. Despite efforts made by various levels of government to remedy the problem, the situation could get worse before it gets better.
Provincially mandated rent controls may end up discouraging many developers from building rental accommodations.
Some developers who get into the market will likely ask top dollar for rent at the outset, knowing any future hikes will be constrained. As for existing arrangements, once tenants move out, more landlords will opt for the Airbnb alternative, or a similar option, even if that means being subjected to municipal regulation and scrutiny.
Businesses in the burgeoning low wage, mostly part-time, service sector will continue to struggle hiring staff, many of whom are faced with the high cost of living, a lack of affordable housing and transportation challenges. As resident Katy Keeler recently told The Chief, “Squamish has city prices for rent, housing and childcare but most jobs here don’t pay city wages.”
Finding space is another aggravating circumstance for new businesses trying to get a foothold in Squamish. “Right now, you can’t find a space if your life depended on it,” says Greg Fischer, who is a previous president of the Squamish Downtown BIA and a former downtown business owner.
With the ongoing profusion of residential development that scenario is not likely to change in the near future.
When it comes to transportation, certain members of this municipal administration figure that a critical mass of eco-friendly citizens will be eager to park their vehicles and pedal from A to B, come rain or shine. In reality, a large scale commuter cycling culture will not magically appear anytime soon in a town where distance and weather mitigate against residents abandoning their cars or trucks. In other words, Squamish is a long way from becoming an Amsterdam knockoff, no matter how many cycling zealots sit at the council table.
We also know a profusion of locals spend up to an hour commuting to jobs outside of this community and commercial drive-thrus have become a necessary convenience for them. Demand for that service will likely increase, no matter how much opposition and virtue signaling goes on in council.
For confirmation, just check the bustling McDonald’s and Tim Hortons drive-thru lanes.
In the final analysis, while we’re on the subject of downing double-doubles, it remains to be seen whether the above discussion is a cynical cup-half-empty rant or a sobering reality check.
