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Will tying Canadians’ rent to credit scores help amid housing crunch? [Video]

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Canadian Economy and Markets

Will tying Canadians’ rent to credit scores help amid housing crunch?

The federal government has proposed making on-time rental payments count towards your credit score, as part of a host of measures that will be in the upcoming budget. They say the move is aimed at protecting renters and helping some access the housing market sooner.

But some rental experts and advocates say they’re concerned the idea is only a piece of the puzzle, as it doesn’t tackle current affordability issues— including a person’s ability to save for a down payment while facing skyrocketing rental costs.

Sean Previl reports on why some are applauding the measures, and what advocates and credit bureaus still want to see from Ottawa.

For more info, please go to https://globalnews.ca/news/10397208/rent-payments-credit-score-canada/
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