Iron ore recovery sparks surge in Lab West housing demand, with some residents feeling the pinch - News Summed Up

Iron ore recovery sparks surge in Lab West housing demand, with some residents feeling the pinch


Jay Torraville of Labrador City is living with another family because they can't afford a place of their own. Jay Torraville, a worker in the service sector in Labrador City, is struggling to make ends meet. The two major mining towns in Labrador West are Wabush and Labrador City. (Submitted by Arn Keeling and John Sandlos)Boom-and-bust cycleThe Lab West boom has been drive by a surge in iron ore demand as global manufacturing recovers from a pandemic crash. When housing supply lags behind the economic boost, people whose incomes aren't tied to the boom can't afford the higher prices.


Source: CBC News January 28, 2022 05:01 UTC



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