A retired civil servant, suffering from rising rent prices, even went so far as to change regions in order to have more money in her pocket and make ends meet better.
“I had to leave a four-and-a-half in Lanaudière for a three-and-a-half in Longueuil. The rent is significantly cheaper. I went from $950 to $800 a month,” revealed Aline Laporte, who retired from public service for four years, on Tuesday in Longueuil.
“The $150 saved helps me because I can invest a little more on food that is less affordable,” she continues. “When I go shopping, I am limited. “I forego the little treats,” she shares.
According to the Observatoire Grand Montréal, more than 24.6% of renter households had to spend 30% of their gross income on housing in Longueuil last year.
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Growth of 6.8 % Rent
On Tuesday, Statistics Canada released data showing that rental price growth in Quebec accelerated over a 12-month period, from +5.8% in July to +6.8% last August.
According to the federal agency, interest rate hikes largely explained this umpteenth upward pressure.
At the Tremplin House in Longueuil, which welcomes with open arms those struggling to make ends meet, its deputy director, Nathalie Bonin, frequently meets people whose income is often even below $35,000. Family in the neighborhood.
“Rents have risen so much. “People tell us that they need to rethink their living and spending habits,” she says, showing us around her shared kitchen.
Nathalie Bonin, deputy director of the Tremplin House in Longueuil, helps people consumed by inflation make ends meet. Photo Francis Halin
“We have a thrift store, grocery service and activities to help them,” she adds.
Mission impossible
And when it comes to buying a home, the slope is even steeper, according to recent data from financial product comparison platform Ratehub.ca. For many, the project is almost unattainable.
While last July in Montreal it took an income of $113,550 to buy an average home worth $520,000, a month later, in August, $1,130 more income was required, or $114,680. dollars to pay for a home worth $521,600.
“Headline inflation in August is not the only number of concern. Price growth has accelerated in most major consumer price index (CPI) categories,” concludes Randall Bartlett, senior director of Canadian economics at Desjardins, in his note released after the release of the inflation data.
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