An eye-opening revelation has emerged from the United Way Peterborough & District’s 2023 Housing is Fundamental report, authored by Paul Armstrong, shedding light on the deepening housing crisis in Peterborough. The report, which has been published annually by the United Way for nearly two decades, points to a growing divide in housing affordability that affects low-income individuals and families.
The report highlights that housing, particularly rental housing, has become increasingly inaccessible to many due to rising costs. While the conversation around housing affordability is gaining traction among the middle class, the plight of those living in poverty is often overlooked. Many low-income households are forced to allocate over 50% of their income towards rent, leaving them with difficult choices between housing and basic necessities like food.
The data presented in the report showcases a disheartening trend. The cost of housing has surged well beyond the rate of inflation, making it an unsustainable burden for many households. This imbalance affects not only the housing market but also the overall well-being of individuals and communities.
United Way Peterborough & District CEO Jim Russell says the report is very concerning, especially when thinking about the conditions people are being forced to lived in.
Furthermore, the report emphasized that the rental market in Peterborough is particularly challenging. The vacancy rate remains alarmingly low at 1.1%, with only a minimal number of new rental units being added each year. This shortage of affordable housing puts low-income households in a precarious situation, as they struggle to find suitable accommodation.
The report also stresses the need for governments to step in and provide support to households with limited income, either through rent control measures or the creation of social housing units.
Russell says the increasing number of households requiring assistance, combined with the declining availability of affordable units, underscores the urgency of government intervention.
The findings in the report have raised critical questions about the direction of housing policy and the increasing inequality in housing affordability, impacting the most vulnerable members of the community. As the housing issue continues to evolve, the report calls for a comprehensive and urgent response from policymakers to address the growing crisis in Peterborough and beyond.
Russell says that if he could speak directly to the “powers that be”, he would ask them to show compassion.
(Written by: Scott Arnold)
