Rising Rents Make Housing Unaffordable for Many in Brampton

Rent in Brampton rose 29% for 1-bedrooms and 25.7% for 2-bedrooms, over 3 times the national average increase.
Brampton has a large immigrant population and is attractive to newcomers, driving up demand.
Scrapped rent control for newer units has allowed double-digit rent hikes in Brampton.
Brampton is more affordable than Toronto but rising prices are making it difficult to enter the rental and ownership markets.
All levels of government need long-term plans for affordable housing to make Brampton sustainable as immigration continues.

ctvnews.ca

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9/19/2023

Inflation Soars in Canada; US Economy Faces Risks Despite Hope for Soft Landing

Canada's inflation rate rose to 4.0% in August, driven by higher gasoline prices, while the Trans Mountain oil pipeline expansion is expected to disrupt oil flow to the US, potentially increasing prices, according to Statistics Canada. US Treasury Secretary Janet Yellen believes the US economy can withstand near-term risks such as strikes, government shutdowns, student loan payments, and spillovers from China's economic woes, stating evidence of a healthy labor market and consumer spending. Rent is rising faster in Brampton than in any other Canadian city, leading to financial difficulties for renters.