this post was submitted on 30 Aug 2023
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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.

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[–] fsxylo@sh.itjust.works 18 points 1 year ago (17 children)

Seriously, who tf are they renting to? There aren't that many rich people.

[–] rab@lemmy.ca 24 points 1 year ago (2 children)

People are spending most of their income on housing

[–] MinusPi@pawb.social 5 points 1 year ago* (last edited 1 year ago) (1 children)

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.

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