High Anticipation By B.C. Resident For Cost Of Living To Rise

A poll by Insights West revealed that in the coming half of the year most of the people living in the British Columbia region will be expected to pay more for provision supplies and gasoline. Aside from that, 3 out of 5 B.C. residents are convinced that the economy in the province is faring well and has high hopes that the fortunes in the region have gone up from two years back.

The poll respondents were split due to the prices in the housing market, with at least 50 per cent of them are certain that the prices will go up in the coming months. The increase of the prices will be eased by added regulations and increased policies, together with the foreign buyers’ tax which would contribute as well.

A third of the respondents are worried about how they’re going to be able to pay off bills, risk of being unemployed, their credit card balance and the security of their funds, while a quarter mentioned they had been anxious about being able to have their rent or mortgage payment settled. About a third of the respondents are cutting down on spending excessively on holidays, spend less on clothes and entertainment expenses.