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.