There is a brutal housing shortage that is contributing to unprecedented increases in prices in almost every part of the country. According to the city’s recent housing needs report, Prince George is no exception. Bold and visionary leadership is needed as Prince George residents literally cannot afford for this issue to remain unresolved.
In some communities, the solution to a housing shortage is simple: create more housing options, build the city out. Expand city borders. Take over the farms or the forests or whatever else may be on the outskirts of the city but that cannot be the solution here as much of Prince George’s current infrastructure dates from before 1980 and is in desperate need of repairing or replacing (the costs of which is ultimately borne by the taxpayers and/or downloaded to renters).
All Prince George residents should have an interest in solutions. Without action, young professionals will not be attracted to the city, kids who grow up here won’t be able to find housing, young families will be priced out of the market, seniors will struggle to find suitable housing for downsizing, etc. We need creative solutions that unlock equity for senior citizens and drastically diversify the housing options in our city so that young people can afford to enter the market.
When you go to vote this October, please consider housing a top issue. In the meantime, please write to mayor and council to share your experiences as a renter, home buyer, home owner, etc. in Prince George. It’s easy to glaze over at the statistics, but its harder to ignore the personal struggles of parents who can’t help their children with a down payment, young mothers who can’t find affordable rentals, etc. What’s especially concerning is that there is no obligation/duty for the city to act on their housing needs assessments - the provincial government simply requires that cities undertake these reports every five years.
The report suggests that the average home price now $318,530 but this data is already out of date. According to the BC Northern Real Estate Board, the average price of homes sold in February 2022 was $402,128 and looking at the available housing today there is very little under $400,000.
The report notes that in order for housing to be considered affordable, the total cost of housing (mortgage, insurance, utilities, repairs/maintenance) must be under 30 per cent of a person’s income. The average salary in Prince George is $22.15 per hour. Assuming an average work week (40 hours), this results in an income before taxes of $3,544 per month. Based on the costs of entry level homes today, a monthly income needs to be well over $7,000 for housing to be considered affordable (and this assumes that you have a down payment saved and extra cash to cover renovations/repairs).
So even with a good paying job, affordable housing is a pipe dream.
Sophia Dryden
Prince George
