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And rents are too high.
As anyone who has signed a lease — or tried to — lately can attest, rent is going up across Canada at an unprecedented pace.
According to data from rental accommodation website Rentals.ca and analyzed by data firm Urbanation, the average rent in October across Canada was $1,976, across all types of properties, from bachelor apartments all the way to three-bedrooms. That's an increase of 11.9 per cent, well ahead of Canada's inflation rate of 6.9 per cent.
The increases aren't even across the country, either, as Atlantic Canada has seen rents rise at the eye-watering pace of 32.2 per cent in the past year. Ontario, British Columbia and Alberta have seen increases of 17.7 per cent, 15.1 per cent and 13.2 per cent, respectively.
Other regions experienced increases of slightly below the national average, but in just about every market across the country, tenants are facing a huge jump in the cost of keeping a roof over their head.
https://www.msn.com/en-us/video/enterta ... ory=foryou
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