“Inflation makes the wealthiest people richer and the masses poorer” James Cook
Under the governance of the Liberal party, the mayor and Kelowna City Council the average home price has tripled and mortgage interest rates have doubled since 2015. Our basic needs like, gasoline, heating and electric power have also become unaffordable, supply chains have been disrupted and manpower shortages are seen everywhere. It is difficult for people to understand why this is happening, History teaches us that each inflationary cycle benefits the wealthiest and it’s the mass of the population who suffer losses and setbacks as their wealth is secretly redistributed by our governments.
- Kelowna 2015 average home price was $365,000
- Kelowna 2022 average home price is $1.04 million
Equally concerning is the average amount borrowed for a mortgage in the Okanagan had risen to $1 million plus and will likely become unsustainable for most as interest rates continue to increase.
- Kelowna 2015 average 5yr. mortgage rate was 2.65%
- Kelowna 2022 average 5yr. mortgage rate increased to 5.24% with no end in sight
- The 2015 property tax on the average home was $2564.00
- The 2021 property tax on the average home was $5340.00 with no end in sight.
July inflation reached 7.6%, levels not seen since the economic collapse of the 1980s.
Inflation is a form of economic cancer, once it gets established it can bring disastrous results at a rate we can not comprehend and overcome. We have seen increases in mortgage costs, interest rates and the cost of living, many are at risk to lose their homes, savings and jobs if left unmanaged. Our mayor and council have supported unlimited development while remaining silent on the ever-increasing housing, rental prices and the cost of living. A mayor and council are hired by the people to protect our way of life, our property and our community we need genuine leaders that will fight for the people to make this city safe and affordable again.
“It’s time to make rational choices and elect people with the experience and integrity to get the job done”