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Rents have been going down for a while now. You sure this isn’t a ploy?
Where’s that? Definitely not a nationwide trend.
It’s mostly apartments, but pretty significantly for the last few years
Interesting. Without all the actual data I’d have to hypothesize the big cities finally hit a tipping point, and these drops haven’t hit the smaller towns that the people priced out by the cities have been moving to.
I doubt that rents will fall all that much outside of the big cities. Unfortunately, the cities have also become more of a playground for the wealthy, wealthy people in denial (children of homeowners that will receive assistance to join the property market), and a home for the unhoused and people in precarious living situations.
If you’re not in either ends of the social classes, there isn’t as much of an incentive to remain, since most leisurely activities and meeting areas are crowded, behind an expensive paywall (if not at the gate, then the activities themselves), or they’re outside the city anyways.
If the government is going to get more involved, they should build more, not force owners to fix their prices in a volatile economy.
Instead, the rent should be managed by the markets, which will be beneficial to all renters if government built supply can beat the demand. We shouldn’t stop building until we reach such a point.
We also need policies for how many homes you can own, building more won’t help if they all turn into airBNB. Thankful BC halted airBNB unless it was also your primary home, we did see a flood of units back onto the market as “Investors” had to sell
I’ve been out of country for 6 months, has it gotten worse out there?
