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The wealthy renter by alex avery7/3/2023 ![]() ![]() What’s more, the numbers in this camp are rising quickly: over the past decade, growth in renters was twice that in owners. That number is higher in urban centres like Vancouver, Toronto, and Montreal, where about half of all residents are tenants. According to the 2021 census, roughly one-third of Canadians rent. Regardless, the outcome is clear: I’ve failed to achieve one of our country’s most commonly held dreams. Maybe I should have elbowed into a more affordable area, even if it meant buying an undersized, overpriced studio. ![]() I’ve heard it described as “renter’s shame.” Maybe I didn’t save hard enough. The prospect of being a renter for life carries a feeling of guilt. The experience has been like watching a train leave the station without me-and it’s not coming back. Now, in my forties, I’ve found that my funds can’t keep up with rising home prices-the average for Metro Vancouver hit nearly $1.2 million in recent months. In my thirties, I pulled together money for a down payment and shopped around for a family-sized condo, only to realize that, at my price point, it would mean moving to the distant suburbs. In my twenties, home ownership felt too far on the horizon to worry about. I live in a two-bedroom apartment with my son in a desirable Vancouver neighbourhood-I’m not hard done by-but I’d always expected that I would eventually buy a place of my own. ![]() I have a confession: I’m in my forties and I’m a renter. ![]()
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