November 28, 2021

ACN News

Area Control Network News | Breaking News

Priced out: Renters facing challenges during red-hot pandemic housing market

According to a recent Royal LePage survey, the pandemic has pushed more millennials from renting into home ownership. Baby boomers who’ve benefited from gravity-defying rising values can feel more comfortable about their retirement prospects, and economists say that’s part of the reluctance to meaningfully cool prices.

Some analysts say that because homeownership is seen as a right, not a privilege, government policies unfairly continue to benefit buyers over renters. This can be seen in an unwillingness to take major steps to cool a red-hot pandemic housing market as well as lax protections for renters who face instability in tight markets such as Toronto and Vancouver.

Anne Gaviola explains.

Priced out is a three-part series looking at housing affordability challenges facing young people in Canada.

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Source: Global News

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