British Columbia

Photo taken on a beautiful day in September 2024.

The composite benchmark price sat at $1,172,200, down 1.9 per cent from October 2023 and 0.6 per cent from September.

I am relieved to hear that this tennant got some money back.

There seems to be a difference in views on what housing means to people. To the landlords, it's an exchange, a source of income for losing access to space. Landlords think it's fair to evict a tennant if it means they can charge more for rent. To the tennant, it's literally where they eat, live, and sleep. Their SOL if the landlord kicks them out. The because of this, the demand-curve on a demand-supply graph is steep. This causes the sensitivities were seen in the rental market these past couple years. The supply side is also steep because of NIMBY's.

So what happens? Prices go up and quantities don't change. Current landlords are rewarded, new landlords are hardly created, and tenants are left scrambling as they move from place to place, having their entire life uprooted each time.

And then people wonder why Canada isn't having kids. LOL