Episode 25: Rising Housing Costs & Mental Health

In this episode, host Jessica Samuels is joined by Jaime Edmondson (Beem Credit Union) and Mike Gawliuk (CEO CMHA Kelowna) to unpack how rising housing costs are impacting mental health across British Columbia.

From renters feeling locked out of the market to homeowners struggling with rising interest rates, this conversation explores the emotional toll of financial stress—and what support looks like.

Key Themes

1. The Emotional Weight of Housing Costs

Housing affordability is one of the top stressors affecting mental health todayFeelings of hopelessness, anxiety, shame, and guilt are increasingly commonFinancial stress often leads to avoidance, preventing people from seeking help

2. Renters vs. Homeowners: Shared Pressure, Different Realities

Renters: (Struggle to save due to high rent and cost of living; Many feel homeownership is out of reach)Homeowners: (Facing rising interest rates and mortgage renewals; Managing increased costs while rental income may be declining)

3. The “YOLO Effect” and Saving Fatigue

Saving for a home can take ~7 years on averageHigh monthly savings requirements lead many to give upResult: people choose to live in the moment rather than save, reducing chances of entering the housing market

4. The Mental Health Impact

Housing is a social determinant of healthFinancial instability can: (Trigger or worsen mental health challenges; Increase isolation and stress cycles)Younger people are especially affected, facing long-term uncertainty

5. The Hidden Costs of Living