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Is Now a Good Time to Rent vs. Buy in Canada?

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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Canada’s Budget Hits a High Note: Eurovision on the Horizon

JJ, representing Austria, winner of the 2025 Eurovision Song Contest, holds the trophy during the Grand Final, in Basel, Switzerland, on May 18. The federal budget teased Canada's potential participation in Eurovision, leaving fans wondering whether the country will actually enter the contest.

Canada’s 2025 federal budget contained a surprising cultural twist: a line item mentioning CBC/Radio-Canada’s exploration of joining the Eurovision Song Contest. While the budget focused heavily on economic measures, defence spending, and civil service cuts, this unexpected inclusion has sparked curiosity across the country.

The government announced a funding increase for CBC/Radio-Canada, part of which will support efforts to expand Canada’s cultural footprint internationally. Eurovision, organized by the European Broadcasting Union (EBU), is one of the world’s largest televised music competitions, drawing over 100 million viewers annually. Though traditionally limited to European nations, non-European countries like Australia have successfully joined, paving the way for Canada’s potential entry.

Prime Minister Mark Carney has reportedly taken a personal interest in the idea, seeing Eurovision as a chance to showcase Canadian talent on a global stage. Canada already has a history with the contest: Céline Dion famously won Eurovision in 1988, representing Switzerland. This precedent highlights how Canadian artists have long been intertwined with the competition, even if the country itself has never participated.

Supporters argue that Eurovision could be a powerful tool for cultural diplomacy, boosting Canada’s visibility abroad and giving Canadian musicians a new platform. Critics, however, question whether such an initiative belongs in a federal budget already facing a significant deficit.

For now, Canada’s Eurovision journey remains in the exploratory phase. Talks with the EBU are underway, but no official commitment has been made. Still, the mere mention of Eurovision in the budget has already struck a chord, blending fiscal policy with pop culture in a way few expected.


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