It’s cheaper to buy than rent, for now

A new report released today shows that Canada’s rental market is worse than we thought, and it’s becoming less and less affordable for renters. Just more evidence to support why buying a home is the more cost-effective solution to housing right now. “With 850,000 lower-rent units lost in the last decade, our rental sector is ill prepared for any downturn in the housing market,” Brad Woodside, the president of the FCM, says in the introduction to the study. “One in five renters pays more than 50 per cent of their income on housing.” — Federation of Canadian Municipalities Report A third of Canadian households reportedly…