Students struggle to find housing in crowded rental market

The Globe and Mail reports that students in Canada are struggling to find affordable housing as rental costs and competition continue to rise. The average asking rate for rentals has reportedly increased by 10.5% compared to the same time last year, with pressures such as rising mortgage interest rates, the return of international students, and the resumption of in-person classes exacerbating the housing issue. In addition to this, the housing problem is often misunderstood due to underestimates around the number of international students staying in Canada after graduation, as well as the number of domestic students who periodically return to their parents’ residence while living elsewhere. Western University student Hannah Alper told the Globe about her experience house-hunting nearly a year in advance to secure a room in a 7-person home for Fall 2022. “We’ve already seen rental prices go up quite a bit in the last year and those pressures are likely going to continue,” states economist Mike Moffatt. Globe and Mail Note: Archived stories may contain dead links or be missing source links.