Kelowna is facing an unprecedented real estate boom. No statistics availableNobody knows how fast rents are rising in Kelowna, nor how many families are in a similar position. The increase in prices could force some longtime residents out of Kelowna (City of West Kelowna)For years, Kelowna city council has tried to counter low vacancy rates by encouraging developers to build more rental units. "A lot of people predicted that this moment would come, that we would be in a situation of incredibly scarce rental housing if governments didn't step up. Kelowna mortgage broker Sally Hazel looked at the salaries required to buy an average home in the city today, compared to 2016.

Source: CBC News June 01, 2021 20:10 UTC