Covid -19 what does it mean to the Sunshine Coast Housing?
Prior to the Covid-19 becoming front page news in print and in the media, 2020 started out like it was going to be a banner year. Vancouver was experiencing multiple offers on homes, Buyers were calling, and then the tsunami of Covid-19 hit us. In the short term this virus will have and is having a negative impact on our housing market, which I am sure most of you are already thinking. The question is how long will it take for the market to bounce back? To me, the recovery period for the housing market will be measured by the length of time it takes to get Covid-19 under control. The longer the restrictions need to be in place, the longer the recovery will be. Think about the economy on the Sunshine Coast, look at how many businesses are affected. The bakery you love to enjoy a pastry and coffee at is closed… the store you go to get a new pair of jeans is closed… the pub you and your friends meet at for a beer is closed… yet all of them are still having to cover their overhead costs. There are so many nonessential businesses that have had to close their doors, leaving the owners and employees without their regular income. Even with the interest rates so low, and it being so tempting to jump into the housing market, Buyers can’t make the commitment without a job. How long this economic standstill lasts will be determined by how disciplined we are in limiting our activities and maintaining our social distancing. I believe the Sunshine Coast market will do well in the long run. People will give a hard look at what is important to their life and Coast with its natural assets will be hard to resist.
Keep in mind those people who served you in our local shops, some are living on very tight budgets and may need the assistance of the food bank. If you have some money to spare, please consider helping out our local food banks go www.sunshinecoastfoodbankdrive.ca click on the link to donate and it will bring you to the Sunshine Coast Community Services site where you can donate. Thank-you
Sunshine Coast is still the best neighborhood in the Lower Mainland and the best value, being 20 to 30 percent lower than comparable areas of the Lower Mainland. Why fight the traffic when you can relax aboard a scenic cruise while catching up on rest or work during the 40-minute commute.
Stay safe and healthy everyone!
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