Rent geared to income seems to be the only possible solution to the unaffordability crisis in Canada.
As the cost of everything increases, and wages stay stagnant, people are increasingly becoming less able to simply live, and work, and eat, and have shelter… To survive.
If employers aren’t willing to compensate workers fairly given the current conditions, then something has to give. If a full time employee makes 30$+ /hr can barely afford a one bedroom apartment, let alone getting into a mortgage, that’s a serious problem.
So if employers won’t increase wages, then property owners who rent to people who can’t afford to buy, need to take a bath.
It’s a battle of the ownership class, will property owners who rent to whoever demand increased pay for workers, so they can charge more for their rental unit…
Or, will employers tell property owners to go fuck themselves, and not increase wages so no one can afford to even rent, let alone buy.
It feels like a race to the bottom.
The only solution that seems sustainable, is rent geared to income. If the employer only pays you so much a month, 30% of that amount is what you can pay your landlord.
Point final.
I would like to start a respectful healthy debate amongst the community, curious as to what the Reddit hive mind thinks…