"People Are Just Getting Poorer" Peterborough's Housing Crisis Worse Than a Year Ago Says United Way

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The United Way Peterborough & District’s 18th Edition of Housing is Fundamental report says that the city’s housing crisis has become worse than a year ago according to author Paul Armstrong.

Paul Armstrong authored the Housing is Fundamental report annually. The report was relased publicly a day after World Homelessness Day, held on Oct. 10. Photo by David Tuan Bui.

The announcement was made at United Way Peterborough & District as part of their annual report written by Armstrong that started 18 years ago.

It provides an overview of Peterborough's local rental market while also highlighting the impacts of the commodification of housing and income inequality.

“People are just getting poorer. That's all there is to it,” said Armstrong. “When your rent keeps going up and up and up, you're not in a position of having the same disposable income and without that disposable income, you're going to have to back away from something else in the marketplace. “

Armstrong’s key findings include:

  • Peterborough's vacancy rate is the lowest in Ontario for the second year in a row at 1.1 per cent

  • Newly vacant apartment rents were 19 per cent higher than the rent of occupied units

  • Recovery in employment and renewed student inflows supported rental demand

  • 70 units were added to the market, which is the largest increase in the last 15 years

Armstrong’s localized statistical figures based on data from Statistics Canada and the Canada Mortgage and Housing Corporation (CHC).

“Never has housing commanded so much attention,” said Armstrong. “Almost daily, reports highlight shortages of purpose-built rental units and widespread affordability challenges. The current dilemma, while newsworthy, isn't new. Its roots can be traced to federal government decisions made in the 1990s. Three decades later social or rent-geared-to-income housing has never been so needed. And 'affordable' housing, which is 10 per cent - 20 per cent below market rents is all but unattainable.”

His report also found that rental demand kept pace with supply growth last year and two-bedroom rentals are 23 per cent higher upon turnover to new tenants.

“Both homelessness and severe housing burden now exist in dangerous proportions. Governments hopefully have learned that reliance on the private market to meet all housing needs is imaginary and unfounded. They (governments) must get back into the game with appropriate policy and adequate funding.”

Armstrong continues to mention that this year's perspective is critical as there is a growing cost of living, particularly in housing and food costs.

Jim Russell, United Way CEO described rising housing costs' impacts on our community members.

“Housing is Fundamental to well-being,” he said. “As we strive to build a better community together, a basic starting point is safe, affordable housing for all.”

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