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 — 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 — they’re increasing at their fastest pace this year.
GRAPHIC VIDEO: Hamas terrorists methodically shoot at every portable toilet at the Israeli desert rave to make sure no partygoers survive pic.twitter.com/SVWFgN6dOy
— i24NEWS English (@i24NEWS_EN) October 13, 2023
When it comes to solving a problem as complicated as Toronto’s housing crisis, there’s no such thing as a silver bullet, says one expert.
CBC Toronto spoke to Douglas Kwan, the director of advocacy and legal services at the Advocacy Centre for Tenants Ontario, and other housing experts after hearing from hundreds of our readers about how hard it is to be a tenant in the city. We asked them about some of your most popular ideas to help curb the rampant unaffordability.
Justin will keep the immigration floodgates open so why bother speculating about a fix?
Despite a desperate need for new housing, Canada’s developers are building fewer homes than they were at the height of pandemic lockdowns, a new study says – and experts say that could mean a generation of Canadians won’t be able to afford homes for most of their adult lives.
Inflation and the Bank of Canada’s response to it, has been the main reason for the slowdown, according to David Macdonald, a senior economist with the Canadian Centre for Policy Alternatives (CCPA).
The new decline in housing development started last year, when the Bank of Canada started to raise interest rates to cool the economy and combat inflation, Macdonald found in a new report for CCPA.
Look what Volkswagen and Stelantis got. Makes sense to have Junior come begging.
It’s amazing what the Marines have to put up with, situated as they are on the edge of a big blue city full of wokesters with bright ideas.
In July, 2020, Bank of Canada Governor Tiff Macklem assured Canadian households that borrowing rates were very low and would stay that way “for a very long time.”
And by all appearances, it looked like he would be right. The economy was in shambles amid widespread shutdowns and sky-high unemployment because of the COVID-19 pandemic. Many turned to government financial supports to afford basic necessities and keep businesses afloat. Inflation remained low.
Bad but then there’s … Brampton landlord renting out sad room where you can’t eat meat or drink in the house
The 2023 homeless count has shattered the stereotypes of where people are living without a home, and who is at risk of being unsheltered.
No longer an urban issue, the count released Thursday shows huge increases in homeless people in the suburbs. For the first time, the number of unsheltered was up in every city across the region: An increase of 159 per cent in Delta, 91 per cent in Richmond, and 86 per cent in the Tri-Cities since the last count in 2020.
Agrowing majority of Canadians believe owning a home has become a privilege that can only be afforded by the rich, a new poll suggests, with nearly three-quarters of those surveyed agreeing.
The Ipsos poll conducted exclusively for Global News and released Friday further suggests two-thirds of Canadians have given up on ever owning a home. That number has also risen since the spring.
“Instead of the dream of homeownership, it is turning into a nightmare for an entire generation of Canadians,” said Sean Simpson, Ipsos’ vice-president of public affairs.
It’s the study heard around the world, often cited as the answer to the housing-affordability crisis in big cities.
The research purported to show that blanket property upzoning in pricey Auckland, New Zealand, led to a dramatic increase in new housing units. It has drawn remarkable attention this year across the English-speaking world.
Canada is gripped by a surge in homelessness that has seen tens of thousands of people priced out of rental and real estate markets and left to live in the streets of the wealthy nation.
Researchers warn government data is vastly underestimating the number of homeless across the country, as the social ill spreads from major cities to small towns.
In Quebec, one in two homeless people can be found in rural parts of the eastern province, instead of mainly in Montreal as had been the case in the past, according to a new report published in September.
As the fallout from the Bank of Canada’s interest rate hikes continues, fewer homes are being built today compared to the lowest point in the pandemic — the 2020 lockdowns — and it’s going to get worse, an economist says.
The provincial government has repeatedly claimed that Ontario needs to free up more land to build houses, but according to the report, lack of land is not the issue. Instead, the report from the Canadian Centre for Policy Alternatives finds that building has slowed because inflation and the high cost of materials has made home building less profitable for developers, and there are fears the market will slow due to higher mortgage rates.
If you can’t afford a house, a recession will help a lot more than building more homes
“When there’s dynamic demand, there’s just no way that increasing supply is going to all of a sudden reduce prices by 10, 15 or 20 per cent,” Mr. Clayton said. “The only way to do that is what happened back in the late latter 1980s and early ‘90s, and in the first half of the ‘70s – have a big recession, lose a lot of jobs.”
TORONTO – From ultra-low interest rates that led to a huge spike in real estate demand(opens in a new tab) to the speed with which interest rates shot up to levels not seen in a generation, it’s been hard to keep up with the shifting landscape for mortgage holders.
Now, with interest rates increasingly expected to stay higher for longer, many of the homeowners who locked in low rates years ago are likely bracing themselves for financial pain as their mortgage comes up for renewal.
Canadore College President George Burton answered 20 minutes worth of questions Thursday morning from local media in hopes of what he says will set the record straight.
A shortage of affordable housing, the opioid crisis and the lingering effects of the pandemic have contributed to a rise in visible homelessness. Ten Montrealers share their stories.
At the camp where Conrad has spent the last three years of his life, everything has its place. A fuzzy red bath mat, a towel and a couple of sweaters hang on a clothesline outside his tent. A barbecue sits on top of some bookshelves. The earth has been swept with a broom and a small drainage ditch draws a circle around the tent.
“It’s a lot of work,” he says. He tries to keep the tent warm with an insulated tarp. “I’ve got my heater, my Coleman stove. It’s not hot but at least, with the tarp, the cold doesn’t really get in.”
I feel for these people but the media in this country are bound and determined to downplay any link between Trudeau’s callous mass immigration scam and the housing crisis.
