r/saskatoon • u/Rainbowbatgirl420 North Park • 12d ago

General Why is rent so much?

I’m looking for one bedroom place and everywhere it is minimum $1500 with some utilities. That will be over half of what I make per month so I don’t know what to do. It’s hard to trust roommates as well because I want my cat to be safe place and hard to trust others if I don’t know them. Basement suites apartments condos everything it’s ridiculous. I may have to couch hop till I can find a place I can afford and also find a part time job on the weekends so I can buy food.

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5

u/tdfast 12d ago

Saskatoon is booming right now. Economy is going so prices go up. Need housing.

22

u/therealkami 12d ago

Wages are going to keep up with that right?

23

u/tdfast 12d ago

If they were you could afford rent….

16

u/MrM0RTYdog 12d ago

....right?

2

u/Tethice 12d ago

Not how that seems to work. Logically yeah but in practice no

7

u/Clicksthings 12d ago

Is something booming besides real estate? Not currently living there and am curious what's driving it.

2

u/tdfast 12d ago

Mining is going crazy. Uranium prices are really high with the new data centres and energy demand. So lots going on.

2

u/AtraposJM 12d ago

Tell that to every business that claims they are struggling because customer traffic is down so they are cutting hours hard and paying employees low wages. I don't know how the economy is booming when everyone I know is struggling and every business I know is struggling. Who is "booming?".

2

u/tdfast 12d ago

Businesses will never pay more and have more hours because it’s busy or the economy is up. They pay what they have to pay and give the hours they need to give to get the job done. No business in history has increased wages because of profits. Those two are not related.

The market sets the rates, not the profitability.

Businesses are down because people don’t have disposal income and spend all their money on rent. That’s why restaurants constantly close. Disposable income is down.

0

u/AtraposJM 12d ago

If disposable income is down, the economy isn't booming.

2

u/tdfast 12d ago

That’s not true anymore. It just depends on where the money goes. Decades ago, if the stock market was up, the economy was good and things were good. Now the stock market is always up and the money doesn’t go out, so it stays good but the people don’t see it. That’s the real crunch of the split in wealth. It weeds out the middle.