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submitted 1 year ago by mxwarp@lemmy.ca to c/canada@lemmy.ca

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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[-] EhForumUser@lemmy.ca 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.

this post was submitted on 12 Aug 2023
118 points (96.8% liked)

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