The other side of the boom: collateral effects of a changed Saskatoon real estate market

While the Saskatoon real estate market “booms” and the net worth of Saskatoon property owners grows, something else is growing, and it’s not so pretty. It’s the growing gap between the rich and the poor.

In a front page story from today’s Star Phoenix titled, “Poverty in the Midst of Plenty,” Graham Andrews provides a compelling story about how this rapidly changing market is impacting those at the lower end of the earning spectrum. I’m talking about hard working people who bust their butts to earn $1,000 a month only to see their incomes gobbled up by increasing rents. As rents continue to climb, and wages remain stagnant or show little growth, there’s less money left for life’s little luxuries; like food for instance.

The Saskatoon Food Bank and Saskatoon’s Friendship Inn are both seeing a growing need for their services. Would it surprise you to learn that the number of seniors requiring assistance from the Saskatoon Food Bank has increased by more than 100% in recent months?

Are you pleased by your recent gains in the Saskatoon real estate market?Have you made a pile of money from your “real estate investments?” Perhaps you’re a local agent having the year of your career. Maybe you’ve recently sold your Saskatoon home for a price that leaves you feeling grateful. Why not give something back to the Saskatoon community?Why not send a cheque to one or both of these very worthy causes today?

The Saskatoon Food Bank

202 Avenue C South

Saskatoon, SKS7M 1N2

Friendship Inn

619 20th Street West

Saskatoon, SKS7M 0X8

Norm Fisher

Royal LePage Saskatoon Real Estate


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