Chatham-Kent is in a housing crisis and it is not only affecting households with the deepest economic needs, according to municipal officials.
Low to middle-income earners are also facing more and more barriers in their search for suitable housing. From December 2018 to September 2022, the resale price of homes in Chatham-Kent increased by 123 per cent.
This sharp increase has made homeownership unfeasible for some residents. In turn, access to market rental units became competitive, reducing vacancy rates to the lowest levels ever seen in Chatham-Kent.
Amber Pinsonneault, President of the Chatham-Kent Association of Realtors stated in a media release, “Chatham-Kent realtors are strong advocates for home ownership. Not only is it the dream of most Canadians; but it is also the bedrock upon which our communities are built. For some families, however, the dream of home ownership remains elusive. It is for this reason that we must commit ourselves to provide housing options as well as home ownership. This is why the Chatham-Kent Association of Realtors is happy to partner with the Municipality of C-K, in this initiative.”
The two organizations are hosting an Attainable Market Housing Summit that intends to assist area stakeholders in exploring novel solutions to address the lack of attainable housing in rural communities.
This one-day summit will bring together sector advocates, builders, planners, and financial experts engaged in the innovative provision of attainable housing solutions for low to middle-income households. Through panel interviews and facilitated discussions, participants will address systemic and practical issues in housing delivery, and consider solutions that may assist organizations in developing attainable housing solutions in Chatham-Kent.
The summit will take place from 9:30 a.m. until 3 p.m., on Nov. 29 at Chatham’s Capitol Theatre. Those interested in attending can reserve free tickets now on the municipal “Let’s Talk” webpage.