“BCREA economist Brendon Ogmundson said it is not entirely clear why Summerland has out performed…” Quote from Summerland Review under the headline: “HOUSING COSTS RISING”. Well, why don’t you just sit right down and I’ll explain it to ya!
No wonder some poor innocent BCREA Economist can’t quite figure us out! What a town! What a market. I’ve sold real estate in 3 different provinces in each of the last 4 decades and I can attest…this is one unique mix of “people with real estate licenses”, very low employment opportunities, age restricted housing, hard hit economy, a “tourist town” with only one hotel, an agricultural based economy that just closed its packing plant, a vocal group opposed to tourism based golf resort, an ex Mayor who was in charge of water upgrades who STILL is writing letters to the editor condemning Summerland water system, huge town hall meetings when a land parcel takes a mini step toward the slight possibility of maybe subdividing, vocal movement against the building of an RCMP building, and on and on…and the local reporter wants a big city economist to explain! Ha, go figger.