Nearly everyone cheers the downward slide in interest rates over the last forty years and its inevitable consequence: soaring asset values. Since rents are tied to housing values, why would anyone express surprise when rents soar as well?
It is a steal compared to the city-wide average, renting at just $1,650 per month, but the spartan unit comes with some very unique conditions.
The owner states that since males live on the upper floor of the home, they “prefer to rent the basement to the males,” specifying that there are three beds in the space, and can be rented to up to three “guys.”
Or 3 married couples.
More bang for your buck.
Prices are skyrocketing for real estate including rentals because of open doors mass migration and foreign nationals laundering their ill-gotten gains by buying Canadian real estate.
If only a politician had the brains and integrity ,to take the crony out of capitalisim.
Instead the younger generations will be sporting a beret with a red star on it,and want to eat the rich.
Just another reason why central banks should be illegal. They are capable of creating amazing harm, and the only harm reduction they ever perform is to the problems they were responsible for creating in the first place.
All the while enriching their owners. Because despite their deceptively public sounding names, ALL central banks are privately owned, and are basically counterfeiting operations.
Small world we live in but getting more expensive by the day.
I use to live on Westmount Ave (#109 ) in the early 60’s and being about 3 city blocks long between St Clair Ave West and Regal Rd, it could conceivably be the house I lived in or one of my school chums that I hung out with. If memory serves, most of the Westmount houses were three storey affairs; typical town houses from the turn of the century. The district around Dufferin and St Clair West was known as ‘Little Italy’. It was a great time and place for a young kid to hang out and absorb the west mediteranean ethnic culture of the dedicated and hard working immigrants who like most of us had the drive to want to succeed.
My folks rented the renovated upstairs two floors of a converted house, consisting of 4 bedrooms, bath, kitchen and living room for the princely sum $100 dollars a month. Yes …. that was not a typo!
The main floor flat was smaller and went for $85/month.
Basement dwelling wasn’t even an option back then.
Times sure have changed , though I believe that societal stability is the greatest loss to our western culture.
Helping the renter..
Dang that worked out so well.
Make renting a room or house so high risk and property right free,by granting unequal rights to one side..
Of a fairly simple business deal..
Then penalize the property owners with “Capitol Gains Taxation”.
And prevent these same owners from protecting their investment,by full force of lawfare..
And then complain about the “Chronic Shortage ” of rental space..
Did I mention,that everything government touches,turns to shit?
The rental market is a perfect example.