1 in 5 renters in Toronto spend more than half of monthly income on rent: report

[@anotheran]

Considering 2 in 5 Canadians lack financial literacy, 1 in 5 paying more than 50% income on rent is pretty good

[@pacman3556]

Most people are paying at least half their income for housing whether it is rent or mortgage. Don't blame renters or landlords blame our incompetent politicians from all levels and all parties for creating a housing crisis.

[@fifaham]

We in Canada have abundance of wealth, oil, gas, food, Gold, silver and on and on and we have huge reserve and wealth - where our money is going to? Some one answer this question for God sake. Being a Canadian citizen with nationality from Middle East don't get jobs easy, if at all due to discrimination and isolation. We have big problem to solve.

[@samraarvin]

Corporate greed and corrupt political systems.

[@aavvcc]

Venezuela has the same problem. Resource rich but greedy politicians have driven their country and people into the ground.

[@underratedgod6899]

It's going to justin trudeau pocket for luxurious vacations

[@tsimmer13]

Thank you Justin for making this happen!

[@CanadaTop5]

That’s still too low. More than 50% mortgage holder in GTA are paying more than 50% of their income.

[@DeividasRudokas]

Making less than 100k in this city does make you feel that you're just few steps away from being homeless, yet to make this money it not that easy even with 2 jobs

[@kapasitorcpt9249]

Saw a report need like 150-200k to live "comfortable " in Toronto

[@olivergoncalves1217]

blame your politicians

[@Macky1101]

Canadian landlords and slumlords are making billion$. No wonder everyone is gobbling up all the real estate.

[@shauncameron8390]

Most Canadian landlords are hundred-thousandaires at best.

[@islamicfukistanisocialistr2758]

Landlords are actually losing money every month.

[@JSRTales]

i think figure could more like 3 in 5 more than 50%

[@almontoya5703]

It's because of many many years of foreigners parking their money here and investors that are using our real estate to make dumb money. The amount of laundered money used in Vancouver and Toronto in the last 15 years is staggering. I think the right thing to do right now is to force all foreigners to park their money somewhere else within 1 year (fail to do so will be automatic auction sale) and make residential properties for Canadians only. Ban mortgages/HELOC for 2nd property and taxed them appropriately to prevent dumb money. Any homes sold within 3 years will be taxed 100% inclusion rate. That should help drive the house down and hopefully it's enough to eliminate artificial prices Additional changes also could help: make income verification using your tax assessment directly from the CRA. Make airb&b require a business license and obliged by the motel/hotel regulation in their respective jurisdiction

[@Katrina-z1c]

Maybe sometimes people are greedy and sometimes people need to look at how a person thinks and not the colour of their skin. Quality Verses skin colour is what my mom tells me and she is white woman with black kids. So is how you think that counts not the colour of your skin and some people have bad old values and need to liberate there self. Unless they travel 🧳. Some don’t want to understand that.

[@almontoya5703]

@@Katrina-z1c What are you talking about?

[@romeoandjuliet6522]

The Minimum wage in Toronto is 17 $ per Hour and after paying Tax you take home monthly is 2000 $ and 2000 Dollers is Averege Rent of one bedroom Apartment or basement in Toronto so please talk about common man your whole salary goes to Rent 100% Not 1 in 4 Most ppl and immigrants work on Minimam wage and Rents are always expensive

[@voytech3892]

Bring in another million that will help

[@bubblegum8630]

yeah sell more to chinese and other international buyer and not building any new houses.

[@yvc9]

It makes life precarious for people. People in precarious situations dont make waves.

[@noseboop4354]

Exactly! If you look at history, poor people rarely revolt, because it's hard to revolt on an empty stomach. Most revolts were led by the middle class or upper class against the elite.

[@ZenCorvus]

Move. Toronto is a hole

[@stanleystanley5856]

What lies … more like 3-4 of 5 on rent. Companies don’t pay well to match inflation. Inflation is crazy keeps going up 25% and salary up 1-2%.

[@SolidGoldComedy]

But if we earned more, landlords would just raise the price even more

[@CanadaDubaigirl]

It’s not half it’s the whole paycheque goes to freakin rent .. FJT

[@mrnice9922]

After mortgage renewal almost everyone is paying 50-60 % more. No control on mortgage rates???

[@bryankerr9174]

Paying all the money to live in a distoptian hellscape of drug addicts and gun violence - where do sign up?

[@AS-jb2zi]

In New York no one can rent an apartment that they have to pay more than thirty percent of their income in a month. I don't know how anyone is allowed to pay eighty five percent of their monthly income on rent. And no boss at any job has to keep up with the prices of anything. A few decades ago only doctors made a six figure income. A boss is not obligated to keep up with anything. No one has to support someone elses greed.

[@bluestonemetallic7]

…don’t know why would those ppl prefer to struggle full-time…why not go somewhere else to live a good life w/o financial stress. 50+% expensive rent is beyond words.

[@Katrina-z1c]

However hearing rent is going down in Toronto now that’s a kind thing way to go Toronto. Because it’s hard seeing my friends working hard 😓 and struggling to pay rent and yet they are good people. Maybe give people a break sometimes is good for everyone so it’s easier to help. I see farmers struggling and they put food on are table. Grew up around farming. Farmers are cool.

[@Paganreptiles]

Half haaaa i wish i pay 3600 a month on 4 bed house in Ajax plus utilitys

[@paymans1153]

I left Toronto and Canada, now I live in a tropical beach town in Asia. I stay at a fully furnished spacious and modern studio, utilities included, twice a week maid service, 10 minute walk from a gorgeous beach, my rent is $435CDN/month. And that's on a month to month basis. I could get it cheaper if I were to sign a longer lease, but I enjoy bouncing around every 3 or so months to a new location. I live very comfortably on 1KCDN a month, not wanting for anything. My advice: EXIT while you still can. Make money online and leave Canada and the Western world as they are both shooting themselves in the foot big time. I may come to visit Family but to live in Canada? No more thank you very much. Sad to say but the only thing I miss about Canada is Family. Absolutely nothing else!

[@kne403]

These numbers are wrong.

[@joetseng4676]

People who stays in affordable housing loves Toronto. When you work and don’t live in affordable housing you want to move away from Toronto to survive.

[@goldguilder9554]

I like to keep rent under $850 a month in Vancouver and $800 a month in Toronto. Otherwise couchsurf

[@Don-ex5ih]

We are soon be in depression 😊

[@ExposingKogwuSamson]

You are not even in Canada and you can barely formulate a sentence. Depression is coming to the whole world. Smile at youself.

[@Tom-zu1ss]

My family can live in Toronto with 60k income. It’s possible. Our house has no mortgage. No rent/mortgage

[@NogrimStoneson]

just wait till people realize prison is a better life than trying to survive on the outside.

[@sam-rv1lv]

If you consider after tax income, A lot more than 1 in 5 i suspect, it would be more like 3 in 5. Check out average income vs the average rent in gta.

[@Dam-a-fence]

I'd like you to consider one thing for one moment. The title, "minimum wage". Okay? Good. Now, $16.55 x 44(none of them get 44,

[@Eddieftwz1]

whys the audio messed up

[@unclehujuncle343]

That's bs with real estate,and who rents those properties individual owners or corporations? I guess social revolution will fix this nonsense!

[@xeero24]

If they voted for Trudeau I’m happy for them and zero sympathy.

[@edwardst-pierre1020]

The city just has to make a by-law that control rent. Foreign citizens should not be able to own real estate plus renting out their properties because this has become a business on the back of local citizens. Rent should be based on square footage. Rental units should rent at 50$ for every square foot. A 900 square foot apartment should cost 450 $ a month. Every apartment should have standard size bedrooms. The minimum bedroom must be 11 ft x 11 ft.

[@shauncameron8390]

Rent control does not work and is part of the reason why rentals are scare if not affordable at all.

[@David-gz4wb]

Rainbow and sunshine everyday too! Entitlement generation.

[@edwardst-pierre1020]

Rent control is needed for those who need reasonable living. Many rentals are owned by big businesses and don't care about anything but making money. I renovated many rental units with minor repairs and a paint job. But the look of the units are very old and out of style. Someone moved out was paying 900 each month but once painted it went up to 1,300$ each month. Nothing changed but just a fresh paint job. Every rental unit should be based on square footage and the number of bedrooms. This is like working for someone who pays their wages across the board depending on their position. Anyone renting should receive a 100$ per month rebate after renting for ten years would give you 12,000$ to help with a down payment for a home but the three levels of government should add to that 12,000$ to purchase their house.

[@David-gz4wb]

@@edwardst-pierre1020 you can ask for the world but sometimes it might just be yourself that needs to change with the times.

[@jubeilam8128]

They spend the other half on sports ball, concert tickets and entertainment. Will use food bank for food.

[@daleweiss9507]

Don't forget cigarettes and tattoos.😊

[@mr.vwalangjowa6659]

75% of my paycheck

[@mycharles3340]

Im so glad i own my house. But i pay property tax up the yazoo.

[@Tjd1982]

Nothing new, I was spending half my income on rent in 2003.

[@DL-ds7xp]

Inflation is the most insidious tax of them all

[@CHANNELS647]

Taxation without representation

[@Funk1880]

So 4/5 don’t, that’s pretty good

[@kapasitorcpt9249]

The 4/5 share the apartment with 5 others....

[@Funk1880]

@@kapasitorcpt9249 Nah most people i know live alone or with 1 other person

[@aarbar6615]

“Canada is not broken” - Justin Trudeau

[@JohnSmith-ss2bz]

I spend 100% of my paycheck on rent and i eat via the foodbank.

[@firstlast7719]

Vote Liberal soon it will be 50% paying 50%

[@Paul-gf9fc]

It looks good on the liberal dump

[@CallmeBoodah]

Got to make your landlords rich so they can retire off your hard work.

[@flodareltih9825]

Good news. The international students can go home now.

[@jhunSebastian-t9t]

Unbalance big problem in the future... Just one x factor..

[@shahjehan]

So glad I moved out

[@graphdatascientist]

145%

[@dkmchui]

You voted for it.

[@drakezen]

Oh be quiet. The fact is that because of Trudeau and the Liberals the rent is high because the cost of mortgages and housing is high, so of course the rent is not going to be cheap. Go look at how much it costs to have a house and to pay mortgages, and also how much free range money laundering was allowed for decades, then come back to do 'journalism'.

[@marlondavis5128]

You need to move out the city go to rural

[@AmanSS890]

If you can afford to buy a house and put it up for rent you should be able to . We live in a free market. What really happened lots of Canadians they started flipping and renting out homes and the prices of the homes went up during Covid it just made it worse the people that all ready had properties during Covid became richer . Dont hate because someone invested their money in real estate at the right time . People will hate just about anything . It is what it is . Rent is not the only thing that went up mortgages also went up. Blame the liberals for bringing so many people over and they need landlords to buy homes and rent them out 🤷‍♀️ stop bringing millions of people into Canada. Then they hate landlords for pushing up the rent because they have a family of 6 living in a 2 bedroom apartment and using up all the hot water of course the la lord will push up the rent . You have any idea how expensive rent is in new York 😅

[@FranklinNomad]

Trudeaus Canada

[@WestQuinte]

I feel like squatting in Bridal path

[@andygrenn680]

Encampments thrive in this economy…