Don’t get any ideas, but homeowners in China are boycotting their mortgage payments. 

Sure, it may be very expensive to buy a home in Canada, but don’t forget it’s also very expensive to rent one—and getting pricier every month, as average rents across the country have returned to their pre-pandemic high of nearly $2,000, according to new data from Rentals.ca.

Why it’s happening: The reversal of two pandemic-era trends—the flight from cities and rock-bottom interest rates—is driving the rent surge.

The Canadian housing prices will fall by ~25% from recent all-time highs by the end of next year, according to a new report from Desjardins.