Canada’s rental crisis is getting worse, according to a new report that found the average asking price for rent in September was $2,149 — up by more than 11 per cent compared to a year ago.
That’s according a data analysis of tens of thousands of new rental listings across the country from Rentals.ca and real estate consulting and research firm Urbanation.
And according to the September report, average rents aren’t just headed up — they’re increasing at their fastest pace this year.
While the general national trend is pricier rents, the situation is playing out differently in individual markets.
Toronto remains one of the most expensive in the country, with the average cost of a one-bedroom property now at $2,614 a month. But the pace of rent hikes in the Ontario city has slowed considerably in recent months, and was down by 0.2 per cent from August’s level. Compared to one year ago, Toronto rents are up by 4.9 per cent.
Getting a roommate especially does not help if you own your home and you are on ODSP. They claw back 50% of your rental income. It’s monstrous. You’d think you could first apply it directly to housing expenses, but no; not only is it applied to your income, but you don’t get the benefit of the first thousand dollars being exempt from clawbacks like with all other income. It’s like they have specifically designed the system to make it impossible for someone on ODSP to keep their home. And ultimately it costs more to have someone move out of a place they own and into a rental. It’s so regressive and backwards. It’s a reflection of the institutional and cultural hatred of the poor we seem to be so fucking proud of.