Homeownership is becoming more and more of a distant dream for young Canadians and, as a result, the demand for rental housing is surging. Despite this, rent affordability is an under-researched area.

Today in The Conversation Canada, Grant Alexander Wilson from the University of Regina and Tyler Case from the University of Saskatchewan write about their forthcoming research on rent affordability.

Their study found that 63 per cent — nearly two-thirds — of the Canadians and Americans they surveyed were in unaffordable rent situations.

They also looked into how economic literacy — in this case, how familiar renters were with the concept of housing affordability — impacted renters. As affordability knowledge increased, Wilson and Case found that the likelihood of renters being in unaffordable accommodations decreased.

But while education can play a role in mitigating rent affordability, they are quick to point out that the responsibility for addressing the crisis doesn’t just fall on the shoulders of renters: “Strategies require participation from governments and developers as well.”

Also today:

All the best,

Eleni Vlahiotis

Assistant Editor, Business + Economy

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