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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[–] jerkface@lemmy.ca 11 points 1 year ago* (last edited 1 year ago) (1 children)

Millenials and GenX are still working on their 40-50 year mortgages. Boombers paid off their 20-30 year mortgages ages ago. Housing prices have to stay high, because that is Boomer's retirement investment. If housing prices crash, instead of homeless young people we have starving Boomers.