Some have given up entirely – by moving to smaller communities.shows more Canadians are renting as home ownership rates decline. Census data from 2011 to 2021 show the number of renter households increased by 21.5 per cent, more than double the increase in homeowner households at 8.4 per cent. The largest share of renters are now millennials , making up nearly 33 per cent of the market.
In B.C., Langford on Vancouver Island near the City of Victoria had a large population increase of 31.8 per cent. Within the top 10, the Southern Gulf Islands, a grouping of islands off Vancouver Island, grew 28.9 per cent. “The solution for us is to build more rental, so we need a dramatic increase in the supply of rental properties,” he told CTVNews.ca on Thursday. “Actually getting through all the approval processes takes time.”
The subsequent rise in mortgage interest rates forced many buyers to hit pause. This cooling tactic by the Bank of Canada has since lowered housing prices but the core issue has persisted.“I would generally regard it as a shorter-term issue,” he said. “Given that the market rates will have a bigger impact, it will be more challenging to buy a home. Even though house prices have come down, it will be more challenging to buy a home because mortgage rates have gone up.
Moving away from most jobs, towards depending on the government. Why are these cities so much cheaper anyway, if the cost of housing is all because of labour and materials?!
Rent-to-own is a trap. BTW, TrudeauMustGo TrudeauMustGoNow
Now people can't afford to live in small towns. We keep bringing in more immigrants but don't build enough homes or keep up on Healthcare.
You forgot one other major thing... The increase in violent crime as a result of failed leftist policies and woke nonsense.
Rent to own is a trap. BTW, TrudeauMustGo TrudeauMustGoNow
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