The average asking rent in Canada reached another record high of $2,078 in July. Rents increased 8.9% annually, the fastest pace of growth of the past three months. The 1.8% increase in average asking rents over June represented the fastest month-over-month growth of the past eight months.
How to people manage to RENT a 1 bedroom apartment at $3000 per month?!
That is fucking insane
It means lower quality of living, because most cash goes to rent, and gas is higher in Vancouver too, so road trips are not on the agenda to escape the monotony.
Raman. Maybe.
That’s insane.
It should be illegal to rent out a property with a variable rate mortgage attached, because no reasonable person would rent out such a property if they had to take responsibility for it.
But hey, we can just make renters pick up the slack!
There’s no real difference between variable and fixed. People who bought at the top who have huge fixed mortgages will get hit with massive payment increases at time of term renewal. That’ll be 1-4 years from now. In reality these increases will be hitting people all the time overall.
Instead we might want to look into making illegal renting out units that have higher than a certain carrying cost.
You’re right, fixed just helped avoid sudden changes in first necessitating sudden rent changes.
I do feel like rent increases need to be examined closer for these situations, it’s absurd the average one bedroom in my city costs more than my mortgage and insurance on a whole house.
Apropos of nothing but that Outbound 3 person tent is a good buy for $53. I got a number of seasons out of mine.
That’s the opposite of apropos of nothing…
Grande Prairie, SK?
Lol, that got me confused too. It’s clearly in Alberta on the map. I think because the two towns above are SK the data entry person just muscle memoried another one.
Homes need to be seized from people or corporations that they are not occupying
Look, I love St. Catharines–hometown proud, yo!–but if you said to me “You can live in St. Catharines, or live in Montreal for the same price”, well, vive le Quebec!
And Oshawa? Really?!
To be fair, St. Catherines has lower unemployment than Montreal. It may not be as fun, but people will also pay to be able to access work.
Oshawa, though… Yeah, that doesn’t make sense. Toronto and area has the highest unemployment rate in the entire country, save Cape Breton and Newfoundland. You aren’t going there for jobs… or fun.
We need to build crappy public housing. Crappy, so homeowners don’t get mad at us “decreasing their property values.”
Just copy-paste commie blocks out in Mission and run frequent train service into the city. Out of sight, out of mind, but effective at sustaining massive housing supply (on the order of tens of thousands of people) with minimal cost due to prefabrication. Concrete is cheap, so use it.
We should decrease their property values though. That’s half the problem
Hali out there in NS squeezing into the top 20
Can we please ban landlords from existence? Thank you.
