scrubbedexpat091

Our rent hasn't gone up since we moved in 2017, and as we are existing tenants the rent increases are capped, but as people move out, rents go up on units, and thus making it near impossible to find lower rent. This month 87.5% of our income is just to rent.

Rent increase nationwide 3.7% in October over the same time a year ago, highest annual rate of change since 1991.
Ontario saw 4.6-per-cent increase.
BC and Quebec saw more reasonable increases of 1.9%
Demand continues to overwhelm supply.
Kelowna, B.C saw an increase of 9.4%
Victoria and in Peterborough, Ont. saw 7.6% increase
Oshawa rose 6.1%

Toronto and Vancouver continue to see steep rents, average of $2,400 and $2,000 for a 2 bedroom.
1.8 million tenant households pays over 30% of income towards rent, above what is considered affordable.
Construction of new units is not keeping pace with population growth.

“The market, left to its own devices, will build units for rich people," Mr. Macdonald said. "However, we also need a lot of new units for middle-class people who live and work in places like Toronto and Vancouver but likely can’t afford the rent as it stands.”

https://www.theglobeandmail.com/busi...e-decade-high/

JamesM

It's out of control in Toronto.

London, UK has cheaper rent now.

Yesterday's AirBnB ruling may help alleviate some pressure as a lot of stock will make it's way back to the long term rental market.

spouse of scouse

That's appalling JS Any idea if you've progressed on the list for social housing (sorry, I don't know the correct term for Vancouver).

scrubbedexpat091

No idea. We have submitted what we qualified for to get priority, but there is no real time frame. Its not a first come first serve system, and demand far exceeds supply. I can't remember exactly when we sent in our initial application, but it's been at least 4 or 5 years, possibly a little longer, but in that ball park.

If we ever become homeless that will move us up the priority list, if we ever (very very unlikely) have a kid that will move us up the priority list as well, married, childless couple with housing isn't the highest priority.

Last year around this time we applied for a rental that would have saved $400 a month but they had minimum income requirements and we didn't meet it. There was another place middle of the year same, less rent, but minimum income requirements. Doesn't help we have to disclose to landlords we receive disability since the landlord has to fill out a housing form, and while its illegal to refuse housing based on disability income, in this market its not hard for a landlord to find more qualified applicants so impossible to prove it was because of that unless of course they are stupid and tell you but most landlords are not that stupid.

scrubbedexpat091

Obviously not in Manhattan but some of the other boroughs have lower rent vs Vancouver.

It's a domino effect as well, Vancouver got expensive so people moved east, as people moved east that pushed housing up in those areas and now its expensive everywhere. In 2006 I lived in Edmonton and we (ex wife and I) rented a house for $700 a month, doubt that is possible now.

spouse of scouse

So there's no way you can call someone and check that you're at least still on the priority list? The demand/supply situation does sound much like it is here to be honest, with the same criteria/priority/wait lists. There aren't any housing associations here as such, just one program run by the government. I know of a single lady a bit younger than you who's been waiting for 4 years. Definitely do not want you to become homeless before you're bumped up the list, but could you borrow a few kids for a while?

BristolUK

I'm available

spouse of scouse

No one would be looking in the pram and cooing over that baby. Gross!

scrubbedexpat091

Our applicstion is active. We call 2 times a year to update our info as required.

spouse of scouse

Goodo. Was just a thought.

scrubbedexpat091

"From another angle, only 12 per cent of Metro Vancouverites on an average household income with no other equity (aside from the down payment) could afford an aggregate-priced home of $1.059,100."

"In Metro Vancouver, a buyer on an average household income would need to spend 82 per cent of their income to buy an aggregate-priced home (all property types), assuming a 25 per cent down payment."

https://www.vancouverisawesome.com/2...bility-report/

scrubbedexpat091

Our building has 2 units available for rent, same size unit we are in, same owner/landlord, asking $2,349 a month.

$599 more per month vs what we pay, we moved in 2 years ago so our rent is 2017 level.