According to a new report from Rentals, In July, the Canadian rental market hit a record high with an average asking rent of $2,078, marking an 8.9 per cent annual increase.
According to a new report from Rentals, In July, the Canadian rental market hit a record high with an average asking rent of $2,078, marking an 8.9 per cent annual increase.
Seriously, who tf are they renting to? There aren’t that many rich people.
People are spending most of their income on housing
I’m American, but I can’t find a place to rent that doesn’t demand an income of 3x rent. Is that not a thing in Canada?
When I was renting, places were looking the combined income of everyone living there (and any personal guarantor(s)) was at least double the rent, or that you had a long rental history that showed that you could pay.
It’s simple! For me I either have to pay that much, be homeless, move to a tiny shitty city with no work in my field, or spend a year trying to find a decent place that isn’t totally unaffordable while thousands of competing potential tenants do the same to renters with vacancies. So fun!
My landlord upped my monthly rent $600 bucks this year because he’s a cunt and knows I have no fucking choice except to pay him.
I had another comment typed before I realized that they don’t need to fill every room if they have a small fraction paying their rates.
It’s fucking f2p whale economics without the f2p. Nothing against you.
Huh? Which province?
News alert: 2000 isn’t “rich.”
It is to most if you’re oberying the 1/4 rent rule. That means you’re making close to $100k/year, and that’s a lot for a lot of people.
Nobody observes the 1/4 rule do they lol
Well, many US landlords do a 1/3 rent rule. And I’m hearing about some doing 1/2 rent rule. So, I guess not. But they are looking to consume as much of your income as possible.
Yeah that ain’t rich.
Tell that to people who have a combined household income of $50k-$75k. Big difference.
I’ll tell them to their face. That isn’t rich. I’m not arguing the money doesn’t make a difference, I’m arguing that isn’t rich. Terminology matters, and someone making 50k is in the same classification as someone making 150k from the perspective of the actually rich. Being rich means having wealth.