Rent in Canada hits another record high in January | Canada Tonight
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- Опубліковано 18 лют 2024
- The average asking price for rent in Canada reached $2,196 in January, a 10 per cent increase from this time last year. Thomas Davidoff, director of the UBC Centre for Urban Economics and Real Estate, discusses his thoughts on the rising rents across the country.
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60k a year = homeless
not if you dont own an expensive vehicle
Live in a less expensive city?... Not all of us can afford nice things. So some of us can't afford to live in Toronto or Vancouver? Perhaps live in more affordable place? That said, we do acknowledge the prices for homes are crazy and more homes need to be built. But c'mon some of us Canadians need to live in a place where its more affordable than be homeless in an expensive city. Annual income of 60k, you will not be homeless in Canada, that's for sure.
@@sangief17 Enjoy your ghost town with no restaurants, no stores, no services, since no one will be there to fill those jobs.
Ya if you don't want to sacrifice
@@sangief17 Maybe not homeless, but living paycheck to paycheck unable to save anything! It's insanity.
Canada's immigration rate before Justin took office was 265,000 per year.
This year and next year it will be 500,000 per year.
Why this government thought they could ramp up immigration and not have any negative ramifications to housing, healthcare infrastructure, schools, food banks etc etc is beyond me.
Because the liberals know new immigrants are far more likely to vote liberal. They are also getting dispersed into tidings that are close in polling
@@user-cf1se1kk5x Exactly, you're going to vote for the government that allowed you into Canada.
Liberals always choosing party before country.
Those numbers don't include international students and temporary foreign workers. For about three years now, Canada has taken in over a million people a year. In 2022, population growth was 2.7%
@@user-cf1se1kk5xImmigrants go to the big cities where there is opportunity, and they don't have to drive. Not what you're insinuating.
@@SARugby1 True and the government only reduced international student numbers not immigration. Again because of voting ability.
My rent is $1300 for 1 bedroom. It goes up a $100 every year. Help.
seems like every 6-8 months
just buy a van and live in that
Get involved in your democracy. What have you been doing every year your rent went up? So many are silently suffering. What are european farmers doing? Standing up.
@abcdedfg8340 we get our banks frozen and are labeled terrorists in this "free western democracy" we call Canada. We're you not around during the freedom convoy?
1 million migrants per year. Make your own conclusions.
We on Vancouver Island are seeing rents at 4,400 a month for rentals. Like who the heck can afford that. Like seriously come on guys really????
BC STEM chads
Justin Trudeau can & that’s all that matters (in his world)
@@majorpayne5289deep thoughts
@@MustyBastard nah. They leave for the US for double the pay
@@MustyBastard every single young person I know with a university education has left here
At work we got a 3% wage increase, and they made it sound like we are lucky. A rise of only 3% per year does not even cover the 12% rise in food costs or the 10% rise in rent costs. But just a few miles South in Brampton there are 100,000 new immigrants who don't speak very good English but they will take our jobs in a heartbeat should we get fired for wanting more pay. The only hope for us = apply for jobs in America and hope we get one.
3% you are lucky. Company I am at had an average 2% increase and laid off around 2000 people.
America has a bad economy right now I just came back after being there for years
So you’re going to complain to your MPP, right? Because you know that rent is controlled by the province - not the feds…
you gotta change employers and get that signing bonus and higher salary.
as a dual citizen that just got back to Canada they aren't doing much better
Trudeau: We will let million people into the country
Public: There's no housing for those people
Trudeau: Housing is NOT a responsibility of the Federal gov't "It's not my job!"
I’ve given my landlord just shy of $50,000 dollars to live in his tiny 1 bedroom basement suite these past 4 years. Crazy, if for whatever reason I have to leave I’ll have to pay even more. Can’t afford to live anymore 🤷♂️
Don't pay more than 1,000 monthly, or look for cheap single room
You need to eat properly and have a decent life. Decent landlords will always try to keep things affordable. You have a voice, and you live in a democracy. Do something. The europeans seem to understand if people do nothing, they get nothing, thats why you hear about the farmers protests, their unions, and their very decent labour rights including in minimum 3 or 4 weeks paid time off even for new employees. Maybe canadians need to grow a backbone and learn to stand up.
what do you do for a living
@@saidibrahim5931 you want everyone to live like a rat and have our standards dramatically decline? Use your brain, kid
@@saidibrahim5931 Be sure to get one with unicorns and leprechauns too.
I work to just pay rent, this is where suicide and thinking of doing bad shyt comes into play. We will see a rise in crime and other shyt soon iam sure.
Not enough houses being built, but keep taking numbers of foreign students and immigrants.
It was bound to happen and gonna get worse.
Canada also relies on foreign money! Catch 22
@@Riverraftingthat's what we get from a government who thinks it's two good to enable the same energy production which had sustained our growth up until 2015
we have always had immigrants and foreign students without any housing crisis....so immigrants and foreign students are not the problem. Our incompetent politicians are the problem. For decades they have not built any low cost or affordable housing (instead using condos that should be in the housing market for low cost housing) and they tie up new home and condo builds for decades. Around my building there are dozens of signs for zoning by law changes for new condo towers that have been there for a couple of years before covid- that is just the "planning process" who knows how long it will take to actually put shovels in the ground and build the towers.
You are just spewing out the hate filled nonsense your politicians told you to deflect away from their own incompetence
Thanks @@pacman3556! It’s refreshing to see someone who understands that rent is a provincial issue - not federal…
@pacman3556 500,000 immigrants coming to Canada annually while only 200,000 houses are being built annually.
If you think immigrants and foreign students are not the huge factor of the housing crisis in Canada, then you are delusional.
Either we gotta stop accepting new immigrants or slow it down at a significant rate. We should only accept about 10,000 people until the housing crisis in Canada is fixed first.
Never in its history has Canada built more than 200K new homes in a single year yet we have had 1.2M immigrants last year alone... that's roughly the next 6-7 years of new home construction just for them. It will take 50 years to build the required homes needed to affect the supply chain enough to change the price tags. We have an immigration mandate of 500K new immigrants per year. It's going to get far worse which is of course going to result in more homelessness, more addiction, more crime, more mental health issues, more random acts of violence,...all because of immigration.
then blame politicians that tie up building new homes and using the new homes that are built to house low income families instead of building low income homes instead of blaming immigrants. Blaming immigrants is just racial hatred that your politicians feed you to deflect away from their own failures.
How is this sustainable??
its not
Easy, get rid of Trudeau and immigration will down to common sense level
you hope that the next guy won do the same thing.@@actionjackson9290
Quick look at food and housing prices aaaaannnddd.. nope. It's not.
@@actionjackson9290no it won't because this is beyond government at this point. The lobbyists all want mass immigration and whatever government that gets in will continue to do so as long as they keep getting their pockets lined
Townhouses, especially new builds, are not cheaper than detached houses. They are actually oftentimes more expensive.
Just total greed as far as I am concerned, nothing will change as long as Liberal and Conservative MPs are landlords. Give me a break talk about conflict of interest.
If it makes you feel any better, know that all MPs and the Prime Minister are due a salary jump on April 1
So what it means is, Higher rent price for you, and higher pay for them 👍Welcome to Canada!
When the suburb of Burnaby makes the national news, there is definitely something going on...
I remember renting a brand new 1 bedroom apartment in the GVA on the 20th floor facing the mountains for $900/month in 2012
Lol now you would be lucky to get a single room in a shady basement for 900$…
@@ameerhamza4046 lol ya. It was some relator who rented it to me. I remember seeing one of the original MLS listing for the unit he left in the drawer. He paid 200k for the unit.
@@ameerhamza4046you won’t find one Man! I swear it it’s the unfortunate truth it’s probably $2700
If your q young person, the canadian dream is to leave canada
Canada is a democracy. Its citizens have the right to speak up and organized. If people want to flee or stay silent instead of trying to fix the problem, then you can probably see why our country is in such bad state now. Here is a better suggestion. Stay and get organized, talk to renters, talk to decent landlords, talk to business owners who cant keep staff and cant get enough money from house poor customers, I think they will all support affordable housing.
Every one coming to AB now driving up prices. I live in rural. 1060 got me a 2bed bath condo now its 1400 with crazy population increasing and demand for a space.
that's what happens when you open the tar sands but don't plan enough housing for the people coming to work in them.
We’re just gonna be India 2.0 at this rate with slumlords hosting 10 people per unit
Deal with the immigration problem first then reasess and go from there..
Mass immigration?
what about it?
That is one of the problems. The other constraint on the rental market is greed on behalf of the landlords.
@@notmuchtoit705
No. Government interference constrained supply.
I have a disability and can only work so much. Government gives less than $1200/mo for folks with disability like me. How am I supposed to live?
I have not moved for 13 years because the place I moved into 13 years ago was the cheapest I could find. It was almost $200 below average market value at the time.
Ontario's market value rules for new built homes, is too ambiguous of a "rent control" model.
Market price at 3:00 AM is not the same as market price at 6:00 AM, nor is it the same at the beginning of a fiscal quarter as it is at the end of one, nor is it the same in the spring as it is in the winter.
I've seen 1.8 - 2.4% annual increases, during and after I stopped getting the taking the garbage out discount(garbage has been piling up more and more since), a new build could jack my rent by 100% or more if the "market" advised it.
Doug Ford is a traitor to Canada and her King.
Nothing world class about Toronto. Full stop.
I make 80k/year. Just barely scraping pavement to get by!
Arbitrary immigration targets are simultaneously increasing demand and suppressing wage growth. There are better ways to control immigration. I would suggest demand based approach with some guard rails in place. For instance, I would require all educational institutions to provide housing for international student (at least 50%). Businesses should be required to provide accommodation to all temporary/seasonal workers on top of the minimum wage. In order to hire foreigners employers should be required to prove that they are paying enough to afford housing in the region (market cost of accommodation is less than 30% of salary). Accommodation for refugees should be secured before bringing them to the country from around the globe. No accommodation = no permits. It would limit demand and prevent wage suppression.
Blah Blah Blah...same crap different pile to give all those homeless people a false belief that somebody is doing something, other than just repeating the same old gossip.
Good on you BC, keep up the reporting on this crisis! Media turns the spotlight on failing political leadership that's scewing over whole generations. Rent inflation means big profits for the few and a huge tax on those who can least afford it.
Time to build more coop housing arrangements …. Oligopolistic private sector in Canada would never care for affordability.
It's not their job to.
@@shauncameron8390 but you do agree that almost all markets in Canada are pretty much oligopolistic ?
@@abcdedfg8340 I have written more than 3 letters to IRCC and immigration minister since 2019. But never got a single reply on the issues I was raising : LMIA and fraud international students. Looks like Canadians have to solve the problem through Voting.
who is the oligopoly on housing? it's worse than that, the government has a monopoly on zoning and permitting and that is where the supply restriction comes from
@@haloimplant7678 who owns your rental market? Boardwalk, Rentmidwest, and Avenue Living?
Your point about Govt involvement is correct. However, those lots are sold by house builders to buyers but wait generally how many builders are there in an area - mostly 2 - A or B.
"You will own nothing and be happy"
Excessive immigration and greed are the two biggest things contributing to the high rental costs.
Has the federal government not have heard of rent caps??? This is insanity.
federal govt isn't in charge of housing. Blame municipal and provinces for not building enough affordable housing and limiting the amount of new homes being built. And rent caps don't work. NY proved it doesn't work.
housing is a provincial jurisdiction. and i agree with you, landlord greed is out of control.
it isn't landlord greed. It is simple economics. Landlords don't control the price of housing any more than tenants do. It is a supply and demand issue. Blame the govt that fu$cked up the supply so bad that we are now in a housing shortage. @@techcafe0
Rent caps do not work. As a matter of fact, they enabled short-term renting, renovictions and corporate ownership.
I’d just blame Trudeau for just about everything, since the last election, everything has gone up and it was before Covid.
Everything has been on the rise for decades. The start of COVID was a disruptive turning point that led to greedy landlords feeling that they could charge tenants even more as they were moving from richer areas to poorer ones to work from home.
Trudeau may not have put a stop to it, but there haven't been any conservative-led provincial that have been pushing back against their landlord pals raising the rent with restriction either. Pretending like the invisible hand of the market will regulate prices on its own has been a heavy conservative talking point for ages now, so those dingdongs aren't going to help anyone either; they're cheering this atrocity on.
It all went up a lot under Harper, too. We need to ditch this red versus blue nonsense before it's too late.
Trudeau will always be damned by the rightwing rage-farmers, no matter what he does or doesn't do. The Liberals are not responsible for the economic and housing woes that have befallen Western democracies around the world. It's not unique to Canada. We Canadians would be no better off with a Pierre Poilievre in power, particularly lower-income and disabled Canadians, who'd suffer the most cruel austerity under a CPC government.
@@iExploderthings were never as high as they are now with Harper. Quality of life was much better under him .
@@iExploder
No it didn't. And Harper didn't let 500 000 people in the country at a time.
Good work Liberals!
not good at all
housing is provincial and municipal level which in Toronto is Conservative provincial govt and NDP municipal.
650$ for a two bedroom apartment this is living.
The government should have come up with policies to drive/entice people to create new neighborhoods somewhere else. Canada is so large even if we only count the “livable” area along the Canada-US boarder. What kind of sense does it make to have so many people cramming in the likes of Toronto, Vancouver, Montreal and Calgary?
where do you live my boy???
The OECD says we will be the worst performing modern country for the next 40 years. Good job canada!
The 3.5% rent freeze was too high. Some families
Paid nearly $100. More per month.f
Saw subsidized housing for 2 beds with family incomes of 190K maximum. Pretty much tells you all you need to know about how badly Canada has eaten it’s young.
Wow Edmonton 17% jump.. This is due to " Alberta is calling" and so many people moving. The houses are almost 700k in Edmonton which is crazy.
Greed of landlords is the driving force behind rent increases, and politicians allowing their greedy landlord buddies to increase rent astronomically is what's allowing this to continue. Caps on the amount and frequency of rent hikes need to be implemented to protect people from their predatory, vampiric landlords that are bleeding their tenants dry.
Governments should be providing people with housing. Housing is a necessity and as such should be a right, and not something controlled by useless, robber-baron landlords. This was not some unforeseeable problem. A focus on creating more housing (and training people to build more houses and apartment) should have been a priority decades ago, and the rich landlord class needs to be abolished.
interesting - you apparently want to live in something similar to Soviet Union..... very interesting....
@@georgekaradov1274 I think you mean the Netherlands. In Holland 75% of the rental stock is subsidized, pay no more than €700 ($1,000.) a month, and it used to be govt housing, it’s now private landlords who are under strict regulations.
It's kinda the opposite. Landlords will pitch an affordable mixed use complex. The municipality will delay it and require re-permitting and re-engineering and re-whatever until 12 years have gone by (developer paying mortgage interest the whole time), and the cost to deliver it has spiraled upward. Finally it gets approved, and... all costs get passed along as astronomical housing prices. How much of the final price was from all the permitting and delays? In Vancouver, about 60%. If the development had been stamped approved on day one, the final cost would've been 40% or less. (Keep in mind, inflation.)
If you want our government to control it, we're doomed. Our government only builds bureaucracies that require more employees to perform the procedures and enforce the compliance of policies of those bureaucracies.
I recently saw a piece on a local low income housing apartment building. The news piece started "originally envisioned by xxx in 2013 when he acquired land from a church shutting down, he pitched the idea and designs to the town in 2015..." and yes, it just opened.
Developers would love to build things right now, but you can't get the government to move on anything. Did you know that the CMHC has an awesome build to rent program with 10 years at a fixed rate? Developers have applied and gotten no response (no acceptance or rejection) after 2-3 years.
If you put the power in the government's hands, then apply for social housing, you'll likely get back an acceptance letter in 2041, or some crazy year like that. Good countries to study on this would be places like Hong Kong, where the majority live in social housing, and suffer from the exact same problem. The government carefully limits how much construction happens, to keep housing scarcity up and housing prices very high. You really don't want the wolves guarding the hen house...
@@MK-cc5ve that is how the Soviet economy used to work. And we all know how that one ended...
@BikeHelmetMk2 back in the worst days of comunism behind the Iron Curtain, you had to wait 10-15 years for the goverment to give you an apartment. It seams that under the Trudy goverment we will get even longer waiting times... perfect if you belive in socialism...
it's hitting record highs but i am hearing many landlords are sitting on empty units and it is taking longer to rent out at high prices.
They're sitting on empty units because it artificially lowers supply and creates more demand for what is available, so they can artificially inflate property-values and rents. OECD in 2021 reported Canada has 1.3 million vacant properties (probably more now). It's why BC, Ontario and the feds are bringing in vacancy-taxes (although I think the federal UHT 'underused housing tax' only applies to foreign-owned non-resident properties, e.g. a good chunk of Vancouver bought by money-launderers who buy real estate to wash their illegal cash). All other provinces without vacancy taxes (and short-term rental restrictions) allow owners to get tax-breaks on those empty properties. It's criminal.
Last year I was in the market for a rental unit and was visiting Brampton, ON for a scheduled open house. There were 3-4 other interested parties who had come to see the unit at the same time as us; everyone was giving dirty looks to everyone else. The landlord had advertised a price to which I agreed, but then said another party had outbid us by $150 a month; we moved up our bid to $200 over the original quoted price but still lost in the end. :( Landlords playing renters off each other - it was sooo humiliating! It was then that my wife and I decided to move out of Canada in a year's time; that time is in another month; we're booked to leave end of Apr 2024.
comfortable safe spacious homes should be part of FREE UNIVERSAL HEALTHCARE!
Our taxes (all misappropriated, like bandits for nefarious interests) are being squandered on things that do not "better everyone's lives" in Canada!
also the morgage fraud add this into the mix as well, please☺️😊
mortgage
Don’t complain. You voted for Justin Trudeau and Olivia Chow
Or, the majority non voter exists.
Pretending it doesn't is making you and yours look foolish.
Why are the Landlords so GREEDY?????
If someone is not happy with rent price - buy your own property and become a landlord, then we'll talk.
they aren't. They are following supply and demand or simple economics like everyone else. Blame politicians that were incompetent and fu$cked up supply.
Why are tenants so entitled and ignorant?
@@shauncameron8390, because of this: "buyer is always right"! 😁
Cut down on amazon plus and Netflix..😅 that's what the short girl said
well if rent keeps going up pretty soon lot of people will have to do van life it is way cheaper ......then most people think , smaller but it works lol
But it's so cooolld I Canada. Maybe if the weather was warmer...
Is now a good time to sell a condo unit? The housing price didn't go up as compared to rent prices right?
Buyers are getting priced out of Toronto. Renters are getting priced out of Toronto. I hear a lot of cry. There’s a lot of affordable homes in Ontario or Canada. We can’t have the same standard as 2019 lols. Besides look at gdp per capital. It’s been negative for a decade.
Too many people -- Not enough homes.
In rental markets manipulated by corporate landlords to create exactly that.
It lets them write their own paycheque.
There are enough homes. They're just not affordable, or 'available'. OECD in 2021 reported 1.3 million *vacant* homes in Canada (probably way more now, since the covid buying-frenzy). Land-hoarders deliberately leave them vacant to artificially lower supply and increase demand to inflate property-values of whatever is left available for sale/rent (nevermind the tax-breaks, and nevermind the hundreds of thousands of homes taken 'off the market' to turn into short-term rentals, that "investors" are also allowed to substantially write-off despite lucrative profits).
No wait!!! Let me guess....it's a "lack of supply" problem...couldn't have anything to do with huge corporate landlords forcing tenants to gouge out their pocket books until being left with nothing could it???
Its not actually
It's mass immigration, greedy landlords, and greedy corporations
you are correct it is a lack of supply problem. Landlords don't control the housing market any more than renters do. They follow it. Demand is high and supply is low so rent is high. Didn't see people complaining years ago when it was the reverse. You want to cry to someone cry to the politicians that created this mess and kept supply low.
@@pacman3556 you're kidding, right? OECD in 2021 reported 1.3 million *vacant* homes in Canada (probably way more now, since the covid buying-frenzy). Land-hoarders deliberately leave them vacant to artificially lower supply and increase demand to inflate property-values of whatever is left available for sale/rent (nevermind the tax-breaks, and nevermind the hundreds of thousands of homes taken 'off the market' to turn into short-term rentals, that "investors" are also allowed to substantially write-off despite lucrative profits). Don't even get me started on all the money-laundering and mortgage-fraud in the Great White North (called "snow-washing", incidentally). Speculators & "investors" are to blame for this shitshow, and now just capitalizing on ridiculous immigration levels to boot.
@@SARugby1
All products of government intervention.
😅 Don't you think planning is also a problem? If your house has 2 rooms and you willingly let 10 people in, some will have to share a room while others will have to sleep on the floor. Do you think they can sleep on the roof?
I’m all for immigration but you need to have enough housing and infrastructure for people before you bringing mire people into the country.sliw immigration down to catch up.
Yeah baby, let's raise the carbon tax.
Condo buildings before November 2018 have a limit on how much rent can be increased each year. About 2-3%. However, there is no limit to buildings that move in after that. why? Is it normal for rent to increase by more than $500 every year?
I don't know where you got this from but my condo building was built decades before 2018 and the monthly fee increased by nearly 20% this year.
Parasitic landlords will parasitic rent-increase whatever their parasitic provincial 'laws' allow, which is "as much as they want" in all but 5 provinces (and Ontario's rolled-back, as you mentioned). It's why tenants don't complain even when they reliably pay rent for years and the property is falling apart around them. Rocking the boat usually = swift economic eviction.
@@omegashenron8 assuming you're in Ontario, the landlords would have applied for and been granted an exemption to the pre-2018 rent-caps/guidelines (I think called an N2 or L5?).
Greed is the elephant in the room. Too many property owners are greedy. We keep wringing our hands about how unaffordable rents have become, while increasing the rent we charge. People absolve themselves from personal responsibility for what they choose to do.
Time to stop airbnb and vrbo.
Time to kick out the liberal government, don't you think?
It’s already stopped… The bill was already passed. The issue is home owners with multiple investment properties, we need to stamp this out before it escalates.
@@Eminetics no there's more then ever
Abolish rent control as that enabled Air BnB's existence.
@@shauncameron8390 there is no rent control
As long as the rent and home prices are high boc won't decrease the interest rate.
when they removed the limits for land lords in 2018 that really made a difference right? they built more places for rent right? so glad it helped.
they need to reverse it already.
Disagree, the market demands single detached homes and the government should be making greater efforts to provide these at affordable rates.
Additionally, bring back cooperative housing for those who desire condo/apartment-style accommodations.
Providing more inventory will create more affordable opportunities for home ownership for all classes and will reduce demand on the rental market, hence, drive down rent prices.
Reducing immigration/student visas will reduce housing demand and make ownership as well as rentals more affordable (fewer people = less demand).
UBI, make it mandatory for everyone
Federal or provincial ought to do something to stop the rent increase because a lot if people will be on the streets. They MUST stop the unattainable cost for rent.
Government intervention helped cause the rent increase.
All these companies have to make money somehow... when all their commercial properties sit empty for years... they would rather take no money for leasing out their commercial properties... then leasing them out at a discounted rate... fix our tax system.
Close the borders!
rent increase needs to be made criminal.
Not before property tax, mortgage, repair and maintenance cost increases, etc. are made criminal.
Be prepared AB, your taxes will skyrocket
They just brought so much filth in last 10 years... 😢
In a first world country they wouldnt allow this but hey Canada is all about rich vs poor
I've been living in Toronto more than a decade. Please notice the tent encampments before saying Toronto is world class. Descent progress? I don't think so
Well, I had been paying my rental total of $156,400 in total living in Vancouver
The rent rises need to stop finally. The Government needs to implement some rent control, or many people will live on the streets.
This guy has an axe to grind. He completely ignores the fact that a large reason that rents have gone up are just plain greed and government abdication of responsibility in the housing market as a whole.
All these people piss me off. Nothing but a bunch of talking heads. All talking no fixing anything.
It’s not greed
LOL. Government meddling exacerbated and enabled the crisis.
@@shauncameron8390 sorry big guy you're wrong.
@@ChillyDippers
Sorry, little guy, but the government is the ultimate problem.
Montréal is doomed.
1 bedroom appartment with cockroaches is 1800/ months.
in another news, immigration into Canada at all time highs. Coincidence? I think not.
Dying in Canada is now easier than living...
Why does Canada keep voting for this?
Stop building single family houses
I'm from BC I don't care how beautiful it is lmao $2700.you live there to survive how beautiful
great...
Don't worry the people that created this entire mess over the last 8 years are working hard to magically fix everything. 🙄
Bring mortgage down and rent price will also goes down as well
Rents were skyrocketing before mortgage rates increased! Your argument is invalid.
@@NatureArtMusic its true but now high mortgage is becoming part of it as well
Better yet, let the landlords default on their too-high mortgages (that they knew were a financial risk), and get those houses/units back on the market so average people can afford to buy them.
Well when you increase Canada's natural immigration rate from 350k to 1.5M and skip checks and balances, this is a natural outcome.
This makes me so sad ….
the realtors are the greed behind it all
No. Government meddling is.
Realtors are just pawns in the game. The govt is to blame for mass immigration.
I read somewhere that last 30 years new construction has been deliberately slowed down to help the banks, politicians and the real estate investors, after all these sections are the poorest of the people in our communities if I may so so ;-).....
😢😢 This country is finished people! Why do we put up with the Liberal government
Because we hate conservatives more than we really love liberals.
Comments are on?
Rising rental rates is directly linked to high intrest rates. So all you people wanting housing market crash with higher intrest rates can go ahead a suck it and pay the bill.
Pack 'em in. Sunny ways people, sunny ways.
Pay 1300 a month on a mortgage on a house with large backyard and inground pool
Hold on to that house. I wish I had bought a house sadly to late.
They’re unable to save.
Save every dollar you can. The party will end one day.
mommy's ?
@@MustyBastardthey probably bought it 15 years ago.
the rich don't want more houses built or their expensive over priced homes will lose equity as there would be enough homes on the market. the thing is a home is a place you live, you shouldn't live to work to pay most of your wages on a hime as they are over valued and over priced. people need to stop buying homes for a couple of years, but the problem is there are companies buying up the homes and so are foreign buyers. we need a way to build more homes for more canadians to live in without companies buying them and people coming here such as on a student visa and buying a home
It’s bad for everyone as this means renters won’t have money to go to restaurants, movies, buy shoes, concerts. It’s all going towards paying someones’s mortgage. Not good, no easy way to end this.
@@mikes6216 Depends when you bought the home tbf. If you bought the home before 2012, you’re golden. But 2016 and 2020 we saw 2 major price spikes. 2016 from China and 2020 from covid demand. Regardless, this video is about renters having to pay more so not sure why you’re making it about the homeowners. I own 8 properties myself with 10 units being rented out. Let’s not pretend like it’s the homeowners that are suffering the most here. We’re all building equity. I’ve easily made 20x (maybe as much as 30x) my salary since 2020 just on home appreciation.
So what is the conservative plan to lower rent prices across Canada? The problem is all these Airbnb.
Pay attention
Air BnB is a product of rent control. Landlords seeking to do short-term renting because government made long-term renting costly and non-viable.
Rent is up but the good news is tent sales are up
We need UBI
Until recently I was all for a UBI, but at this point a UBI would likely be useless, because it'd just give parasitic landlords another justification to raise the rents. Just another indirect federal-to-landlord-enrichment pipeline. If the feds bring it in, it must come with anti-rent-gouging conditions. Better yet, we need a Debt Jubilee (look it up, e.g. "When Debts Become Unpayable, They Should Be Forgiven" by former Wall Street analyst, debt-historian and economist Michael Hudson). It's what many empires eventually had to do to save the empire from collapse (and those that didn't, collapsed). We are at that end-of-empire cycle now (and not just Canada, but globally).
Corruption = Corruptio. More money for CBC please
A low interest rateholic wakes up in jail.
He asks the first police officer he sees, "Why am I here?"
"For house flipping, mortgage fraud, BRRRRRRRRR and money laundering" replies the officer.
"Great," says the man, "when do we start?"
The govt should allow container homes.