Rental costs are soaring. What can the government do?

High housing prices have forced many Canadians to accept that they may never be able to afford buying their own home. But what if they can't afford to rent one?

But what if they can't afford to rent one?

Strong demand for rentals and a shortage of homes are both contributing to soaring rental costs. And that's making it even more difficult for people to save money for down payment on a home.

The asking rent across Canada hit an average of $2,078 in July, up nearly nine per cent on an annual basis, according to data from Rentals.ca and research firm Urbanation released last week.