For those of you who've given up on ever buying a home, we've got more bad news: Canadian rents have been rising at their fastest pace in decades, pushing up the cost of living at a time when households are already struggling to pay the bills.
"Rent increases have been the third largest contributor to headline inflation over the past 12 months, trailing only mortgage interest costs and autos," Bank of Montreal chief economist Doug Porter wrote in a client note this week. "After averaging just 1.2 per cent annualized gains over the past 15 years, rents have jumped 2.7 per cent year over year," Porter noted.
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