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LETTER: Expect to see property prices increase

Editor: I would like to thank the Town of Canmore council and Bow Valley Engage for increasing the values of all existing and approved residential properties in Canmore. The defeat of the Three Sister's Mountain Village's applications removes a

Editor: 

I would like to thank the Town of Canmore council and Bow Valley Engage for increasing the values of all existing and approved residential properties in Canmore.

The defeat of the Three Sister's Mountain Village's applications removes a substantial portion of the future supply of all types of residential property and if one looks to basic economic tenets, removing supply where there is substantial demand will cause prices to rise.

This has been occurring over the last several months in Canmore and will likely now accelerate. If we compound this decrease in supply with material cost increases, the concept of affordability will disappear in Canmore along with options for families, our children, and workers.

Brian Talbot,

Canmore