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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
My wife and I are on ODSP and living in a rent controlled 2br apartment for just under $1200. We've been here 13 years. If we got evicted tomorrow I'm pretty sure my next living space will be a pine box with or without an above-ground-view.
I make $1200 per month from CPP and comp, just downsized to a rooming house for $500 per month, pay $500 per month on interest fees for a line of credit I needed when I was off work for 3 yrs (owned a small business) and $50 for phone. The $150 left is groceries.
I tried to speak to my bank about lowering the fees before having to declare bankruptcy but our system doesn't allow that. :(
This. Nobody is actually paying $3,000, but the landlord needs to charge that much in order to welcome any new tenants to protect them 10 years down the line when they are forced to still charge a rent-controlled $3,000 even though a loaf of bread is now $100.
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.
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.
Holy crap, you're right. Maybe there's only a handful of properties, so one or two making a big change would skew the average?
The map marker is in Alberta, so the SK is probs a typo.
Weβre still open to trading Grande Prairie for either Saskatoon or Regina and future considerations.
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...
Ads long as REITs have a guaranteed tax loophole built into their existence this is only going to get worse. Break up the REITs and enforce some rent control.
I don't even know how people are supposed to survive in this country anymore
Homes need to be seized from people or corporations that they are not occupying
August would be the high demand month because of university rentals. December and May low with dropouts and graduations.
Historically what's August increase vs July? Specifying past 8 months send l seems to be aimed at ignoring the usual university demand.
Isn't this report showing year over year increases?
Y/Y is year over year. M/M is month over month
It has m/m and y/y
We should eat landlords.
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
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.
Hali out there in NS squeezing into the top 20
Can we please ban landlords from existence? Thank you.