Average Rent Cost Hits Record High

In the last year, rental costs have risen over 12%.

While Justin Trudeau attempts to refute Pierre Poilievre’s claims that Canada is broken, an affordable, high-quality standard of living continues to move beyond the reach of many Canadians.

According to the National Rental Report, the average rent cost has hit a record high of $2,024 a month.

In just the past month, rental costs rose 2.5%.

And in the past year, rent costs are up a whopping 12.4%, with the average Canadian paying $224 a month than last year.

Of course, wages aren’t even close to keeping up with the surge in rental costs, meaning prices are getting further and further out ahead of what Canadians can afford.

Government policies deepen the problem

Not only have government policies caused the problem of surging prices, but the government is actively making things worse.

With even higher immigration levels, the government will add upward pressure on housing and rental costs.

By restricting the energy sector, the government drives up energy prices, and since cheap energy is the foundation of every economy and successful civilization, this increases the price of everything.

And, huge deficits combined with a carbon tax erodes the value of our money and pushes prices up yet again.

Provincial and local governments are also responsible, as they have been placing many restrictions on construction and disincentivizing new housing supply.

So, as Canadians seek to try and make ends meet, the government is doing everything possible to make that more and more difficult, and surging rental costs are one of many ways the damage caused by the government is manifesting itself.

Spencer Fernando

Photo – YouTube


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