A new survey has revealed that 9 in 10 Canadian renters struggle to afford rent, and three-quarters believe the Trudeau government is “ineffective” in solving the issue of affordability.
As per the survey from rentals.ca, 92% of Canadian renters say they struggle with affordability, while 67% say they are unlikely to purchase a property in the near future.
Moreover, 75% of renters said the government was “ineffective” in addressing housing affordability, with only 2% of respondents viewing Trudeau’s efforts as effective.
According to the survey, “While there is a clear recognition of the government’s efforts, the prevailing skepticism and concern among renters highlight the challenges ahead. Understanding these insights will be crucial for policymakers and industry stakeholders to foster a more responsive and inclusive housing environment.”
And unlike many Canadians who may be less affected by Trudeau’s policies, renters are keenly aware and watching the housing/rental market and its associated policies, with 66% saying they were aware of the 2024 budget and 54% saying they knew of the new housing provisions specifically.
Additionally, for those who read the budget, 16% say it will make the housing crisis worse, while only 10% think it will have some sort of positive impact—the majority were unsure.
In other words, people are calling bull on Trudeau’s promise to build 4 million homes by 2031 (roughly 1 house per minute). The early campaign lying isn’t working.
What’s the biggest contributor to the rent spikes?
As for what’s the biggest cause of inflation in the rental market, yesterday, the Governor of the Bank of Canada, Tiff Macklem, pinned the blame on Trudeau’s disastrous immigration policy of bringing in 1 million migrants every year.
“Shelter cost inflation is still very high and remains the biggest contributor to overall inflation,” Macklem told the Senate. Specifically, on the question of immigration, Macklem said, “A critical choke point is housing,” adding that the market was ”already very tight“ and not ”sufficiently flexible to adapt to this rapid rise in immigration. So you’re seeing rent price inflation, running at about 8 per cent. That’s impacting a lot of people.”
