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After years of brutal rent hikes that left many Canadians feeling priced out of their own cities, something has quietly shifted: rents are finally falling. But does that mean you should lock in a lease and wait out the housing market — or is this actually the window you've been waiting for to buy? The answer, as always, depends on your city, your finances, and your plans. Here's a clear-eyed breakdown of where things stand in 2026. What's Happening With Rents Right Now The Canadian rental market has undergone a dramatic reversal. After vacancy rates hit record lows in 2023 and rents surged by as much as 8% nationally in a single year, the tide has turned. According to the Canada Mortgage and Housing Corporation (CMHC), the national vacancy rate for purpose-built rental apartments rose to 3.1% in October 2025 — up from 2.2% in 2024 and a record low of just 1.5% in 2023. That 3.1% figure now sits above the 10-year historical average , marking a meaningful shift in the bal...
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Iran’s Currency Hits Record Low Amid Nowruz Celebrations

 


On Sunday, Iran’s currency plummeted to a record low, reaching 613,500 rials to the dollar. This significant devaluation occurred as Iranians celebrated the Persian New Year. The streets of Tehran’s main exchange hub in Ferdowsi Street were abuzz with people attempting to exchange their rials for foreign currency. However, most exchange shops remained closed due to the ongoing Nowruz holidays, which span from March 20 to April 2.

Holiday Impact on Exchange Rates

  • Mohsen, a 32-year-old exchange shop employee, explained that the holiday season contributed to the low prices. He stated, “The price is not real; the demand for purchasing dollars is very high, but there are just a few exchange shops open.” Many Iranians echoed this sentiment, emphasizing the scarcity of open shops during the festive period.
  • Mojtaba, a 49-year-old father, expressed shock at the rapid decline: “The rial fell 5% compared to the last six days, while the whole country is on vacation!”
  • Niloufar, a 28-year-old wife, and her husband Behzad, 30, had initially booked a discounted weeklong tour of Turkey. However, with the currency depreciation, they now faced the prospect of paying full price for their trip.

Economic Struggles and Inflation

  • The exchange rate significantly impacts other markets, including housing and rentals. Notably, the rial’s value has eroded dramatically over the years. In 2015, it was worth about one-twentieth of its current value when Iran signed a nuclear accord with world powers.
  • Since then, the rial has fallen from 32,000 rials to the dollar to the hundreds of thousands. In February 2023, it briefly reached a nadir of 600,000 reals to the dollar and has not risen above 439,000 since then.
  • The government’s Statistics Center reported an inflation rate of 42.5% for February 2024, while the Central Bank cited a higher figure of over 46%. The discrepancy remains unexplained.

Tensions and Failed Diplomacy

  • Iran’s relations with the West have been strained since then-U.S. President Donald Trump abandoned the nuclear deal. President Joe Biden expressed willingness to re-enter the agreement, but formal talks collapsed in August 2022.
  • Meanwhile, tensions in the Middle East continue to escalate, further complicating nuclear diplomacy with Iran.

As Iranians celebrate Nowruz, their economic challenges persist, and the value of their currency remains precarious.

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