Finding Hope in Today’s Market: The Journey Of Home Affordability

By Mikaila Bolzonello

Housing affordability is such a hot topic these days. Whether you’re in the market to buy or rent, it seems like a monumental task for most. And it’s not just those on the lower end of the income spectrum, but everyone is feeling the pinch these days.

Recently, I had the opportunity to have an extensive conversation with Orillia’s Housing Coordinator, Janette McGee. Her role was born out of a growing demand in our community for affordable housing options.
It’s encouraging to see that Orillia is not just acknowledging this issue but actively working on it by creating this new role to collaborate closely with the Affordable Housing Committee and present viable solutions to the Council.

The media coverage on housing can make it feel like there’s no light at the end of the tunnel. A lot of people are feeling hopeless about securing their next home, or are worried about how the rising interest rates might impact their ability to keep up with their mortgages. Today’s headlines seem to be all doom and gloom, adding to the stress and anxiety of an already struggling community.

What nobody seems to be covering are all the possible solutions or initiatives to improve the situation.
What I’ve come to realize is that there’s a significant knowledge gap when it comes to potential solutions that could be game-changers for housing affordability in our area. These could not only assist those searching for a new home but also provide options for others who are trying to hold on to their homes and avoid being forced to sell.

My insightful conversation with Janette was just the tip of the iceberg when it came to exploring short-term solutions. Some of them being rent to own programs, grants for building second suites in your home, infinity mortgages, down payment assistance, etc. There was information that even I, as a real estate broker, was unaware of. Both the city and county could use some help spreading the word and so, here’s my plan:
Over the coming months, I’ll be taking you on a journey as I delve into discussions with local officials, representatives from Simcoe County, mortgage brokers, and various non-profit organizations.

I’m determined to get the inside scoop on what’s going on and uncover the initiatives they’re putting forth to aid our community. I’ll gather as much information as possible on making housing more affordable for you and share it every month, hoping it reaches someone who could use some guidance and help.

It’s going to take a village to navigate through this challenging housing situation, but together, we can make a difference!