this post was submitted on 12 Aug 2023
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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.

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[–] [email protected] 18 points 1 year ago (3 children)

How to people manage to RENT a 1 bedroom apartment at $3000 per month?!

That is fucking insane

[–] [email protected] 12 points 1 year ago (2 children)

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.

[–] [email protected] 6 points 1 year ago

@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. :(

[–] [email protected] 2 points 1 year ago* (last edited 1 year ago)

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.

[–] [email protected] 8 points 1 year ago

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.

[–] [email protected] 1 points 1 year ago

Raman. Maybe.

[–] [email protected] 17 points 1 year ago (2 children)
[–] [email protected] 6 points 1 year ago

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.

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

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?

[–] [email protected] 2 points 1 year ago* (last edited 1 year ago) (1 children)

The map marker is in Alberta, so the SK is probs a typo.

[–] [email protected] 3 points 1 year ago* (last edited 1 year ago) (1 children)

We’re still open to trading Grande Prairie for either Saskatoon or Regina and future considerations.

[–] [email protected] 1 points 1 year ago (1 children)

I would absolutely swap GP for Saskatoon.

[–] [email protected] 2 points 1 year ago

@ChuckLopez @JizzmasterD

Be careful what you wish for.

[–] [email protected] 16 points 1 year ago (1 children)
[–] [email protected] 5 points 1 year ago* (last edited 1 year ago) (1 children)

Apropos of nothing but that Outbound 3 person tent is a good buy for $53. I got a number of seasons out of mine.

[–] [email protected] 4 points 1 year ago

That's the opposite of apropos of nothing...

[–] kamenoko 11 points 1 year ago

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.

[–] [email protected] 9 points 1 year ago

I don't even know how people are supposed to survive in this country anymore

[–] Jarve1024 7 points 1 year ago (1 children)

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.

[–] [email protected] 7 points 1 year ago (2 children)

Isn't this report showing year over year increases?

[–] [email protected] 5 points 1 year ago

Y/Y is year over year. M/M is month over month

[–] [email protected] 1 points 1 year ago

It has m/m and y/y

[–] [email protected] 7 points 1 year ago* (last edited 1 year ago)

Homes need to be seized from people or corporations that they are not occupying

[–] [email protected] 6 points 1 year ago

We should eat landlords.

[–] [email protected] 5 points 1 year ago
[–] [email protected] 5 points 1 year ago (1 children)

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.

[–] [email protected] 7 points 1 year ago

We should decrease their property values though. That's half the problem

[–] [email protected] 3 points 1 year ago (2 children)

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?!

[–] [email protected] 1 points 1 year ago

@psvrh @mxwarp

Yup. Been to Montreal twice and it's freaking awesome!

[–] [email protected] 1 points 1 year ago* (last edited 1 year ago)

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.