Students are now paying 25% more for housing than the average Canadian renter — and that’s pushing rents up for everyone

When Ivana Perkucin was an undergraduate student at Western University three years ago, she was paying $500 a month for a rental unit in London, Ont.

A recent report by Unité de travail pour l’implantation de logement étudiant , a Québec affordable student housing non-profit organization, found students are paying 25 per cent more for housing than the average Canadian renter, largely because many post-secondary institutions are located in dense urban centres — and often in some of their most unaffordable neighbourhoods.

Perkucin, who with her partner moved to a two-bedroom apartment in July following the significant rent hike at her old unit, allocates more than 50 per cent of her monthly income towards rent. The student housing crisis stems from a lack of purpose-built student residences, experts say. In a 2021 report, Bonard, a market research firm specializing in student housing, estimated there are nearly 1.6 million full-time post-secondary students in Canada but only 200,000 beds at purpose-built student residences.

“The city is opening up from COVID, so there’s a pent-up demand with people moving back to the city,” he said. “Universities are also opening up at the same time. Plus, the rising interest rates have forced buyers to put their goals of purchasing a home on hold and lean toward renting.”

Reminder that Liberals and Conservatives are both part of the problem, this is systematic theft and transfer of wealth

“Higher education” bunch of crap you can watch on YouTube. Do your own multiple choice tests for business admin.

Stay home

Blame it on the Bank of Canada for increasing interest rates which subsequently affected the selling/buying market and who suffers? those who rent!! It's Nationwide and the still considering another increase!! No one is winning.

Never mind student housing what about the non students amd housing

Meanwhile Trudeau is importing a RECORD +700,000 foreign students, a RECORD of nearly 500,000 immigrants, and RECORD TFWs. In a housing crisis, with stagnant wages, and healthcare crumbling. Trudeau hates Canadians.

Not only students but adults too

Education Education Latest News, Education Education Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Five tips for students looking to rent in TorontoHousing experts and seasoned student renters say these tips will make the process smoother. Just look at them all: immersed/engrossed in theri phones, not even knowing where they are. How will they find a good rental? Those advertised on social m are the most expensive. In old days boys and girls looked at each other. Pathetic generation, Likely 1 of last for humanity. Dont...its a ripoff stay home use a transit pass 1. Stop letting corporations buy all available rental properties. 2. Build.......
Source: TorontoStar - 🏆 60. / 55 Read more »