Ont. mayor can’t afford to buy house in township she leads
The scorching real estate market in Waterloo Region closely impacts the personal life of Wilmot Township Mayor Natasha Salonen.
Despite making approximately $90,000 per year from her combined roles as mayor, regional councillor, and her employment at the local electric utility, she asserts that she lacks the financial means to purchase a residence within the municipality she governs.
"I currently reside with my parents," Salonen states. "It is practically impossible for a young adult burdened with student loans to afford living in this area, and I'm certain many others share this predicament."
Situated in the outskirts of Kitchener-Waterloo, Wilmot Township is home to approximately 22,000 individuals. As per the Waterloo Region Association of Realtors, the typical residence in Wilmot was sold for an average price of $916,167 during the previous month.
Although it is important to acknowledge that Salonen is only 28 years old, her circumstances are still uncommon compared to other politicians in her age group.
"I noticed during our gathering that I was the sole individual among my fellow mayors in the area who does not possess a dwelling," she states.
Salonen made history in October 2022 by being elected as the inaugural woman mayor of Wilmot, securing a commanding majority with over 60 percent of the vote.
She is currently in the process of repaying the loans she acquired while studying at the prestigious University of Oxford in England, and mentions that this situation is one of the reasons she cannot afford to purchase a house.
According to her, a considerable number of her acquaintances in their late twenties are also facing difficulties in purchasing homes in Wilmot.
Well, there was recently a property that became available. I'm not sure about its final selling price, but it was initially listed at $798,900 and had an approximate area of 1,000 square feet.
Local Real Estate Agent Gives Their Opinion
Real estate agent Shawn Ramautor from Royal LePage Wolle Realty expresses that the scenario is not unexpected, especially for a mayor.
"Regrettably, it appears that this has become the norm," Ramautor asserts. "Currently, we observe a substantial impact specifically on individuals buying a home for the first time. Furthermore, the current situation presents a significant obstacle for them to enter the housing market."
According to him, this implies that a number of parents are witnessing their children returning home in order to accumulate funds until they are able to purchase their own residence.
Currently, we are witnessing a significant increase in households comprising multiple generations residing together due to the obstacles faced when seeking alternative accommodations, as expressed by Ramautor.
Salonen backs the recent declaration to construct 10,000 homes that are economical and achievable in the area by 2030.
However, she acknowledges that there are individuals facing more dire circumstances than hers and clarifies that this initiative is not specifically targeted towards young professionals who earn comparable salaries to hers.
She desires the collaboration of local authorities to generate possibilities for that specific age group as well.
In the meantime, Salonen emphasizes that above everything else, the circumstance is aiding her in establishing a connection with the individuals she advocates for, possibly in a manner beyond her imagination.
