Canadian rents, already dropping from peaks, could drop further from Trump’s tariffs

by Salmaan Farooqui

National rental rates are still 16.4 per cent higher than three years ago, but real estate agents and analysts say the threat of Mr. Trump’s tariffs on the country and their potential to send Canada into a recession could lead to rents dropping even further.

When Toronto real estate agent Ruchi Jain was helping a couple look for rentals last week, one detail stood out: nearly every unit had clearly been vacant for months.

Landlords, meanwhile, have been signalling to her that they’re open to finding a way to come to an agreement with prospective tenants. Negotiating rents or shorter terms? It’s all on the table.

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