The San Jose City Council this week unanimously approved a new “tenant preference” policy meant to keep low-income tenants at risk of displacement in the city. Under the law, 20% of affordable apartments in new city-funded properties will be reserved for lower-income applicants living in “high-displacement” areas. Additionally, 15% of affordable apartments will be set … Read more
Democrats in the Colorado Senate fought off a challenge from within their own party Monday and advanced a bill that would increase displacement protections for tenants — clearing that hurdle nearly a year after the legislative death of a similar proposal. The bill generally would give renters of apartments and other housing a right of … Read more
Orange County apartment rents continue to go up after 13 straight years of year-over-year rent hikes, even as rents are dropping in Los Angeles County and the Inland Empire. Also see: What rent slowdown? Tenants find little relief from sky-high prices Apartment List’s index shows average rents were up in 12 of the 13 Orange … Read more
The Bank of Canada is trying to thread a needle. It’s keeping rates higher for longer at least in part because it’s worried a rate cut now could undermine the last two years of pain and progress. “We don’t want to keep monetary policy this restrictive for longer than we have to. But nor do … Read more
Since the founding of Parker’s Downhill Brewing in 2017, owners Jake Minturn and Doug Hyndman always planned to expand to multiple locations. By then, the craft beer market had matured enough the duo felt they couldn’t rely on the production and distribution model. Instead, they tried to build a welcoming space — and one with … Read more
Renters are more likely to report a lower quality of life than homeowners, especially in Vancouver and Toronto, according to survey results over the last few years from Statistics Canada. In 2021 and 2022, renters were over 15 percentage points more likely to report difficulty meeting financial needs and over 11 percentage points less likely to report high overall life … Read more
The average asking price for rent in Canada reached $2,196 in January, a 10 per cent increase from this time last year — marking another record high amid a deepening rental crisis. According to data released Wednesday by Rentals.ca and market research firm Urbanation, the average asking price of rent went up by 20 per cent (or $373 per month) compared to rental … Read more
Bank of Canada governor Tiff Macklem says the central bank can’t solve the housing crisis with interest rates because the root cause is a supply shortage. Macklem faced multiple questions on housing affordability during an appearance before the finance committee on Thursday — one week after the bank yet again kept its key overnight interest rate at … Read more
If you find yourself struggling to make your rent payment every month, you’re not alone. More Americans are having that problem than ever before, according to new data from Harvard University. The number of American renters considered “cost burdened” by their monthly housing payment in the latest count from 2022 hit an all-time high of 22.4 million … Read more
“How expensive?” tracks measurements of California’s totally unaffordable housing market. The pain: Even California’s “bargain” rents look expensive on a national scale. The source: My trusty spreadsheet reviewed 2023 average rent statistics from ApartmentList for 518 larger markets across the US – including 75 in California. ApartmentList’s figures combine pricing from landlord listings and Census … Read more
