The average asking rent in Canada reached another record high of $2,078 in July. Rents increased 8.9% annually, the fastest pace of growth of the past three months. The 1.8% increase in average asking rents over June represented the fastest month-over-month growth of the past eight months.
That’s insane.
It should be illegal to rent out a property with a variable rate mortgage attached, because no reasonable person would rent out such a property if they had to take responsibility for it.
But hey, we can just make renters pick up the slack!