VANCOUVER — A federal government announcement that rental history could be used on a credit score is a"gamechanger" for those who have been faithfully paying their rent for years, said a longtime advocate of the idea.
He said there's something fundamentally unfair about paying $2,000 a month for rent, while those paying the same for a mortgage get equity and build their credit score. Kasandy said she realized that she and many other immigrants to Canada don't own homes but end up paying a big portion of their incomes on rent, payments that could be tracked and help build credit over time."It's fantastic news for all of us really," she said of the announcement.
"The biggest way to prevent the continuing rent gouging that we're seeing in the market is, first off, to make sure people aren't getting unnecessarily evicted," he said in an interview Wednesday. "We've certainly heard from government why they haven't gone toward regulating rents between tenancies in some fashion is because the data is not there," Patterson said."So getting the data in the first place is the foot in the door that enables some more protective measures to be done to cool the market between tenancies."
"We need to make real the promise of Canada for younger Canadians," Freeland said."We are going to pull every single lever and push every single button to deliver more housing without delay."Federal government ministers fanned out across the country on Wednesday making the same announcement.
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