She was out of options: After a family breakdown, she couldn’t go home and she lacked the money to support herself in Toronto’s red-hot housing market, forcing her to turn to the shelter for help.
Toronto and Vancouver have among the tightest rental markets of North America’s major metropolitan areas, according to data compiled from the US Census Bureau and the annual Rental Market Report by Canada’s Mortgage and Housing Corporation. Among the condominiums that have constituted the bulk of new rental supply in the Canadian cities in recent times, the vacancy rates stand at just 0.8 per cent in Vancouver, and 1.6 per cent in Toronto.
University tuition is heavily subsidized in Canada: domestic undergraduate students pay on average CUS$6,693, much lower than the US, but residence costs can add another CUS$13,000 to CUS$22,000 a year and most schools only guarantee housing to students in first year. University students — especially those from lower income families, or lacking family support — are among the most vulnerable to fluctuations in housing.
This is an alarming anecdote. In vanre it's very common. We have torn down perfectly good rentals to build crappy tiny condos. We allow illegal Airbnbs. We allow REIT investors. We allow Mom and Pop (stupid saying) investors. We have empty homes & money laundering. Greed.
Sad JohnTory fordnation you have students who are homeless. This is what happens with poor leadership and people who don't care for the poor. Tory/Ford are corrupted millionaires
Canadians turn to pay?