Who Did You Vote For?

Why, it's like there is a correlation between voting for an incompetent lackey and poverty:

The number of Canadians who say they are unable to meet their financial obligations and are facing mounting financial stress has jumped significantly in the past year, according to a new survey from the National Payroll Institute, which is calling the situation a national emergency.

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Canada’s housing agency is warning of a looming “shock” for borrowers renewing their mortgages as a new analysis shows the pain of higher interest rates is starting to put pressure on some homeowners.

Canada Mortgage and Housing Corp. (CMHC) released its biannual report on the country’s residential mortgage market on Thursday.

The analysis shows that more than 290,000 Canadians renewed their mortgages with a chartered bank in the first half of 2023, facing “significantly higher” interest rates and putting “financial pressure” on these borrowers.

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The average asking price for a rental unit in Canada reached $2,178 last month, a 9.9 per cent year-over-year increase and continuing a trend that has seen asking rents hit new highs for six months in a row.

That's according to the latest rental price report released by Rentals.ca and Urbanation, analyzing monthly listings from the former's network. The findings show while October's annual rate of rent growth in Canada was down from the 11.1 per cent jump in September, it still marked the second fastest annual increase of the past seven months.

On a monthly basis, average asking rents increased 1.4 per cent in October, a slight decrease from the monthly gains of 1.5 per cent in September and 1.8 per cent in August, which was attributed to seasonal factors.

The average cost of a one-bedroom unit in October was $1,906, up 14 per cent from the same month in 2022, while the average asking price for a two-bedroom was $2,255, up 11.8 per cent annually, according to the report.

Vancouver led the way again as Canada's most expensive city for renters, with the average one-bedroom unit listed at $2,872 and a two-bedroom at $3,777 — both down from September's asking prices, but up 6.7 per cent and 5.5 per cent, respectively, on an annual basis.

Toronto was the next highest ranked major city at $2,607 for a one-bedroom and $3,424 for a two-bedroom.