In Ontario renting is 3.5% cheaper than a year ago – with real rents (after inflation) declining more than 5%. The story is similar in the LM, which is now in real estate recession. By the way, mortgage financing costs have fallen almost 30% at the same time real estate prices in major markets have shed 25%. Meanwhile because prices are going down people stop spending, expecting things to get even cheaper (like right now with real estate), so the spiral continues. And the cost of building and owning residential real estate continues to rise.

Source: National Post February 13, 2026 00:05 UTC