this post was submitted on 14 Oct 2023
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Average rent went up another 11% in past year β€” and even getting a roommate doesn't help much (www.cbc.ca)
submitted 1 year ago by girlfreddy to c/[email protected]
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Canada's rental crisis is getting worse, according to a new report that found the average asking price for rent in September was $2,149 β€” up by more than 11 per cent compared to a year ago.

That's according a data analysis of tens of thousands of new rental listings across the country from Rentals.ca and real estate consulting and research firm Urbanation.

And according to the September report, average rents aren't just headed up β€” they're increasing at their fastest pace this year.

While the general national trend is pricier rents, the situation is playing out differently in individual markets.

Toronto remains one of the most expensive in the country, with the average cost of a one-bedroom property now at $2,614 a month. But the pace of rent hikes in the Ontario city has slowed considerably in recent months, and was down by 0.2 per cent from August's level. Compared to one year ago, Toronto rents are up by 4.9 per cent.

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[–] twelvefloatinghands 4 points 1 year ago* (last edited 1 year ago) (1 children)

Only way out for me I see in the long term is to live with like tons of roommates and practice my ultra-dense room arrangement skills.

I think the core problem is that any move the government makes to reduce housing costs will piss off everyone whose primary investment is their house.

Correct solution if not for that would be for government to directly build a fuckton of housing.

Incorrect solution would be to reduce immigration. Immigration is good for other reasons. Cutting it off would weaken the country.

[–] FireRetardant 1 points 1 year ago (1 children)

The immigrants still need somewhere to live. Canada should have increased its housing before bringing in more people, rather than deal with it afterwards. A breif pause on immigration to allow housing to catch up would be reasonable at this point. A similar statement could be made about healthcare.

[–] twelvefloatinghands 1 points 1 year ago

Immigration helps with healthcare though. We get working, tax paying adults, and skip the expensive child phase.

Messing with immigration numbers would throw off other systems too. Makes way more sense to just directly fix the problem of not enough housing. It's not like cutting immigration would do anything to reverse the problem anyway. Housing looks like it's just an excuse to blame immigrants, because somehow the solution always seems to be blaming immigrants.