Was he right? Back then, the cost per square foot to buy a condo was $1,000. Today, it’s roughly $1,400. So, yes, he had a point. But here’s what he didn’t see coming: renting has become equally unaffordable. That’s a problem with frightening implications for every Torontonian.
For this month’s cover story, “Give Me Shelter” (page 33), Toronto Life’s deputy editor, Lauren McKeon, oversaw a team of reporters who dug deep into the high costs and subpar conditions for renters. The stories that came back were shocking.
Just getting started in the rental game is demoralizing. Right now, apartment hunters have to compete with a swarm of suitors just for the chance to rent. Palm-greasing and frantic upbidding are common. And what prospective renters are fighting over often isn’t all…