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Rentals.ca August 2023 Rent Report
(i.imgur.com)
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.
@GeekFTW @mxwarp @twistedtxb
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.