Two sisters were shocked when a Toronto landlord raised their rent by $7,000 per month.

The landlord had told them he wanted to raise the rent to $3,500 and when they complained he decided to raise it to $9,500.

“We know that our building is not rent controlled and this was something we were always worried about happening and there is no way we can afford $9,500 per month," Yumna Farooq said.

    • UndoLips@lemmy.world
      4·
      1 year ago

      For what it’s worth, surveys in my country repeatedly show that renters would prefer to own. But the market here is rough and banks are denying people loans even with a lower monthly payments than their existing rent.

      I would think it is the same in the US, but most people here rent because they can’t buy.