Ont. mayor can’t afford to buy house in township she leads
Waterloo Region’s red-hot housing market hits near dwelling for Wilmot Township Mayor Natasha Salonen.
Despite incomes round $90,000 a 12 months between her work as mayor, regional councillor and with the native electrical utility, she says she will’t afford to purchase a house within the municipality she leads.
“I do live at home with my parents,” Salonen says. “Living in this region is really not attainable for a young professional who has university debt and I know I’m certainly not alone in that.”
Located simply exterior Kitchener-Waterloo, Wilmot Township has a inhabitants of round 22,000. According to the Waterloo Region Association of Realtors, the common dwelling in Wilmot bought for $916,167 final month.
While it’s value noting Salonen is simply 28 years previous, her scenario remains to be distinctive amongst her political friends.
“I realized around the table, I was the only one who doesn’t own a house out of my mayoral colleagues in the region,” she says.
Salonen turn into the primary feminine mayor of Wilmot in October 2022 when she acquired over 60 per cent of the vote.
She remains to be paying off her pupil loans after graduating from England’s University of Oxford in 2019, and says that is contributing to why she will’t afford a house.
Many of her buddies of their late 20s are unable to afford properties in Wilmot too, she says.
“I mean, one just went on the market. I don’t know what it sold at, but it was listed for $798,900 and about 1,000 square feet.”
LOCAL REALTOR WEIGHS IN
Realtor Shawn Ramautor with Royal LePage Wolle Realty says the scenario isn’t a surprise – even for a mayor.
“Unfortunately now this seems to be par for the course,” Ramautor says. “What we’re seeing right now is first-time homebuyers especially are really being affected. And there’s a huge barrier to entering the market right now.”
He says meaning some mother and father are seeing their youngsters transfer again dwelling to avoid wasting up till they will purchase their very own place.
“Right now we’re seeing a lot of multi-generation families living in the same home because of the barriers to entry,” Ramautor explains.
Salonen helps final month’s announcement to construct 10,000 reasonably priced and attainable properties within the area by 2030.
Although, she acknowledges there are individuals in a lot worse conditions than hers and says this mission is not essentially aimed toward younger professionals incomes comparable wages as herself.
She hopes municipal leaders can get collectively to create alternatives for that demographic too.
Meanwhile, Salonen says above all else, the scenario helps her relate to the individuals she represents – maybe in a approach she by no means imagined.
