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.
I live and am active in co-op housing in my area.
It's the only proven sustainable solution to affordable housing.
Any city in Canada, the least expensive housing is co-op housing.
There's virtually no discussion of co-ops in the media.
How did you get into it in the first place? Was it advertised somewhere?
I have heard the term a few times but don't know much else.
Easiest way is to look online for housing co-ops in your area. Unfortunately, there's very few spots that come available. The last time a spot in mine opened up was when a member died. That was 2 years ago.
Yup they're everywhere and fucking impossible to get into. I remember there was one on south danforth in Toronto that was decades to get in or you had to "know someone".
No wonder.
I've heard of a place in London that has apartments for less than $700
I was on half a dozen wait lists before I finally left Vancouver :/
Checkout this post from last week: https://lemmy.ca/post/6518929
Land trusts in BC are often used to build co-ops
I want to know more
What co-ops are (time stamp at most relevant point, but it's a short vid anyway):
old link removedcorrection: the time stamp was missing: https://www.youtube.com/watch?v=kWfbLPmOeTs&t=48s
More in-depth discussion of how co-ops could help Canada recover from the housing crisis: https://www.youtube.com/watch?v=sKudSeqHSJk
Here is an alternative Piped link(s):
https://piped.video/kWfbLPmOeTs?feature=shared
https://www.piped.video/watch?v=sKudSeqHSJk
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I'm open-source; check me out at GitHub.