Affordable housing becoming challenge for Londoners
Published Wednesday, November 21, 2018 3:19PM EST
Finding a place to live that they can actually afford is becoming more out of reach for many Londoners.
That was the hard reality learned Wednesday at the 2018 National Housing Day Forum.
About 160 people took part in the event, from politicians, to social housing advocates, and those who work to help people who live on London’s streets.
According to keynote speaker Andrew Scott, senior analyst of economics with Canada Mortgage and Housing Corporation, London’s unemployment rate may be low, but that’s partly because London has a very low participation rate in the labour market from the ages of 25-54 compared to other Ontario cities.
Scott also told the crowd the historically low vacancy rate London is experiencing is resulting in rising rents.