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Canada's landlords now asking a record-breaking average of $2,078 per month: rental report (www.ctvnews.ca)
submitted 2 years ago by to c/canada@lemmy.ca
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According to a new report from Rentals, In July, the Canadian rental market hit a record high with an average asking rent of $2,078, marking an 8.9 per cent annual increase.

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[–] 6 points 2 years ago (1 child)

But then how would we generate GDP?

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  • [–] 11 points 2 years ago (1 child)

    This is fake GDP. Investing in land value is unproductive. Unlike a business, nothing of value is added.

    In Canada, spending a million dollars to open a restaurant or found a tech start up is a worse bet than just buying a house. Not to mention these businesses are simply harder to keep open when real estate expenses are so high. This is terrible for our economy and one of the biggest reasons why our GDP-per-capita is falling behind peer countries.

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  • [–] 2 points 2 years ago (1 child)

    I think their question was facetious.

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