Ontario is the second-worst province when it comes to the “rental wage” – the amount of money you’d have to make per hour based on a 40-hour workweek to afford rent on average. That’s according to a new report from the Canadian Centre for Policy Alternatives released earlier this week. While no province in the country is affordable — that’s right: not one of them — Ontario is particularly bad. The only worse province is British Columbia.
The report’s definition of “affordable” rent is based on the Canada Mortgage and Housing Corporation’s guideline that one should spend no more than 30 per cent of one’s income on housing. The authors of the report, David Macdonald and Ricardo Tranjan, contrast each province’s mandated minimum wage with the rental wage to paint a grim picture of our present and growing housing dystopia.
Yet another leftist article on the housing crisis that neglects mention of mass immigration, the authors do favour a sort of nationalized housing stock initiative.
The crisis is real, but the problem must be dealt with honestly.
