How can anyone afford to rent an apartment these days ?
This is ridiculous.
You can pay $4,000 a month to rent a 2 bedroom apartment …
$48,000 per year ….
Or you can buy 2 acres of land for $6,000.
Why are people renting anymore ???
It does not make any sense.
Who can afford to pay this much ?
Source: https://rentals.ca/toronto/all-apartments/3-bedrooms?active-listing-id=560175
The average monthly cost of renting a home in Canada surpassed $2,000 for the first time ever in November, according to a report released Wednesday.
The data shows that Canadian renters are dishing out an average of $2,024 every month to keep a roof over their heads. The figure covers all types of housing from bachelor apartments to detached homes.
That's up 12.4 per cent over last November, far outpacing Canada's inflation rate of 6.9 per cent.
Toronto had the second-highest rents. The average price of a one-bedroom apartment in the city has jumped 23 per cent since the same time last year, standing at $2,532 monthly.
A two-bedroom apartment will cost you an average of $3,347 per month, the report found.
Other cities in the Greater Toronto Area saw major increases in rent as well. Costs in Brampton climbed 28 per cent year over year, while Mississauga saw a 19.2 per cent jump. Smaller markets west of the GTA also got more expensive, with monthly rents rising 27.9 per cent in London and 24 per cent in Kitchener.
Of the 20 Canadian cities with the most expensive average rents all but one — Halifax — were in B.C. and Ontario. The biggest year-over-year increase for a single bedroom unit was seen in Burnaby, B.C., where renters paid a stark 32 per cent more last month than they did in November 2021.
Source: https://www.cbc.ca/news/canada/toronto/rental-costs-canada-1.6685602
Time to move to the Bahamas
No kidding.
With a month's rent your could buy almost a million Blurt.