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You are correct for the most part. However, there is some sustainability points you are missing. Unlike other "tourist towns" Canmore is a commutable distance to Calgary. Many professionals seek to live in Canmore and commute. The housing prices and living expenses are comparable in both areas so many simple choose to live in Canmore. As well, many work in the field away from home (like my brother and I we are both field Engineers and gone 3 weeks out of the month) . We chose to purchase homes in Canmore because we fly all over the world to work but our companies are based in Calgary so Canmore is a great choice for us. I know sever vac haulers and water truck operators who do the same. We may appear to be second home weekenders but we are residents. If you work outside of Canmore (especially if your an engineer) you can afford to have a home in the mountains. When interest rates rise I will still be able to afford my mortgage and the town of canmore will still be able to collect my taxes!
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