Surging housing prices in Iqaluit have many feeling hopeless

[Nite]

A lack of available housing in the rapidly growing city has led to a surge in housing prices. In order to build more homes in Iqaluit, the city needs more access to potable water

Sky high housing prices and a ruthless market have many lifelong Iqaluit residents feeling hopeless that they will ever be able to become homeowners.

"It gives me no hopes and dreams that I'll ever be able to own a home in my hometown," said Connie Nowdluk, a 41-year-old resident who grew up in the city.

A lack of available housing in the rapidly growing city has led to a surge in housing prices.

Over the last two years local Iqaluit sell and swap Facebook pages have become the main bulletin board for what's for sale in the city.

Some recent houses posted for sale on these pages include a one-bedroom, plus den, converted 816-square-foot trailer for $475,000. Or a three-bedroom, one-bathroom house at 1,040 square feet posted for $600,000.
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https://www.cbc.ca/news/canada/north...ture-1.6303663

Iqaluit for those that don't know is probably the fastest growing city in Canada in which half the population is younger than 15. Housing shortages has always been a problem for the North and the problem is getting worst.
Iqaluit is also experience a water crisis as their main source of water became contaminated in 2021 and all drinking water has to be shipped/ flown in. Also with the rapid population growth, infrastructure can not keep up as most building materials have to be shipped in but the port is frozen for most of the year so there is a small window to get all the supplies to the city.