Whether they own, rent or manage property, these locals say the housing market is no longer affordable
CBC
The skyrocketing cost of housing has become a dominant issue in the run up to next year's provincial election — as the dream of owning a home becomes increasingly unaffordable.
In Ontario, the average price of homes jumped by 23 per cent year over year, while the Waterloo region saw an even higher increase at roughly 34 per cent.
That translates into a more than $200,000 increase in the benchmark sale price of a home in the Waterloo region, which sat at $803,900 in October, according to the Canadian Real Estate Association.
Those prices are pushing some people out of the market for good, according to what CBC Kitchener-Waterloo heard from multiple interviews conducted with people about their living situations — and what they need from the Ontario government to make housing more affordable for renters and homebuyers.
These interviews have been edited for length and clarity.
What is keeping you from owning a home?
I'm completely priced out of buying in Kitchener. I love the quality of life living downtown especially, but I can't afford to purchase. I don't think there is any kind of path for a single-income person to be able to afford at least a home, let alone market rates of rentals.
What kind of action would you like to see from the Ontario government?
More investments in alternative forms of housing: co-operative housing, affordable housing, community housing but making it part of the community. More conversations about what's really stopping people from being able to stay here.
More condo builds aren't going to solve the problem. What we really need is a variety of builds. We need to look at all of our neighbourhoods and look at how families can live and single people can live.
Is owning a home something you would like to see happen in the future?
No — it's better to rent than to buy.
What kind of action would you like to see from the Ontario government?
I'd like to see places for homeless people and better housing for Indigenous people.
This First Person column is the experience of Shannon Flaman, who lives in Red Deer, Alta. For more information about CBC's First Person stories, please see the FAQ.
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