The mayor of Wilmot, Ontario, admitted that despite the $90,000-a-year salary, he couldn’t afford a property in his home region because of the market’s current astronomical costs.
“I live at home with my parents. Living in this region is not really an option for a young professional with a university loan, and I know I’m definitely not the only one in this regard,” said 28-year-old mayor Natasha Salonen, as reported by CTV. Friday news.
Now, the average home in the Wilmot area sells for $916,167, according to last month’s data from the Waterloo Realtors Association region, English-language media reported.
“Moon [des maisons] Just put on the market. I don’t know how much it sold for, but it was listed at $798,900 for 1000 square feet. [près de 93 m2]”, the mayor continued.
In October 2022, Wilmot became the first woman mayor elected with more than 60% of the vote, realizing that she was the only one of her colleagues who did not live in the area. It is well known that it is far from the only one to show the scale of the situation.
“Unfortunately, that’s the norm now. What we’re seeing right now is that first-time homebuyers are being hit especially hard. There’s a huge barrier to entry right now,” said Shawn Ramouter, a realtor affiliated with Royal LePage Wall Realty.
Still having to pay back his university loans since graduating from Oxford University in England, he wants to see municipal leaders mobilize to find solutions to reach younger buyers.
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