What’s the federal budget done for renters?

The new federal government budget promises to move Gen Z and millennial renters out of the rental market and into the homeownership market.

When the average home price in Canada is $730,000 and average rent now $2,181, it’s hard imagine how on an average annual salary of $59,300 (according to a 2022 Labour Force Survey), nonhomeowners can secure affordable shelter in this country, no matter what age.

A modest-income 78-year-old pensioner, I have rented all my adult life. I’ve paid landlords across this country more than an estimated $600,000 during my lifetime. In spite of this contribution to the GDP, as well taxes I’ve paid over the past 58 years, it would still be insufficient to join the much-touted “homeownership” club.

As for a new “Renters Bill of Rights” to provide a paltry amount for legal aid, and a “Canada Rental Protection Fund” to protect renters by buying up some units to preserve rent prices — it’s far too little, too late.

Suggesting that government will now give credit for rental payments so tenants trying to make ends meet can now qualify for an extended 30-year mortgage is a bit rich coming from politicians approving a new multi-year, multibilliondollar military budget and billions more in economic “aid” for Ukraine.

Citizens of Canada don’t need trickledown fairy tales to address an acute cost-of-living crisis. They need a government that will ensure their basic needs are met, not sacrifice their interests to sustain those of property investors, coupon clippers and corporate profiteers.

Victoria Adams Victoria