Whistler beats Vancouver for title of Canada's 'craziest housing market'

Whistler, the internationally known ski resort town, is in a bit of a housing squeeze, to say the least.

Businesses have begun buying up “million-dollar properties,” driving up the prices in the area and increasing the cost of living for workers who were already settled there. The gentrification of Whistler is upon us, people.

Further, the cost to visit the town has increased alongside the housing trend. BNNBloomberg reports that the “overnight rates during the winter peak" season is the highest in the country.

A 31-year-old ski patrol worker in town, Phil Bonham, has been forced to live in his 1984 Dodge camper van since he was pushed out of the housing market four years ago. He has to eat his fruit and vegetables before they freeze – “he doesn’t bother with the propane-fired refrigerator” anyway.

Bonham describes a low point two winters ago when he had to lie under his van during a snowstorm “rebuilding pieces of the engine.”

His take-home wage after taxes is $2,800 per month but still cannot afford to rent in the ski town. It’s as if Vancouver’s rental crisis is spreading throughout the province.

“I only expected to do [this] for a season,” Bonham admitted, standing in a frequented parking lot during his BNN interview. He pointed to several other vehicles being used for the same residential purposes as his.

Bonham said that he actually makes a decent wage when compared to other Whistler jobs, but would need either support through a second job or “girlfriend” to afford a room to himself.

"Vancouver has made global headlines in recent years, consistently ranking among the top 10 major cities worldwide most at risk of a housing bubble. Last year, Toronto took the top spot giving Canada the ignominious distinction of being the only country with two cities to make the cut in UBS Group AG’s annual list. Yet price gains in Whistler have outpaced both cities."

The permanent population in the town is fewer than 12,000

More than 1,300 people are looking for housing and applying on Whistler Housing Authority waiting lists for homes that are geared to their income. The agency wants to provide at least 75% of the town’s employees housing, which is something that they think will become more difficult as time goes on.

Whistler’s problem

Whistler is not just a winter destination anymore. It has become what Bloomberg calls a 'four-season destination,' targeting golfers, hikers and bikers that may be looking to hit the trails and, you know, escape.

Summer has become as busy as the winter, and because the town now requires more housing for both visitors and workers, there’s a clear housing crunch.

Restrictive zoning from old legislation has capped the amount of development, while odd rules “dictate how residences can be used in the broader community.”

BNN reports that Vancouver’s average home price of $835,000 has been beaten by Whistler, where a detached house now costs $1.67 million.

What about Whistler’s equally scary rental market? Renters in the town are known to pay more than 50% of their income on rent.

One advertisement sought “two female tenants for a single room in a shared house.” The rent was $780 each, and they’d have to share a double bed.