Vancouver's rental vacancy rate was just 1.2 per cent.
In cities such as Toronto and Vancouver, the move away from apartment construction and towards condos is already well underway.
In the Greater Toronto Area, monthly rents rose by $63, on average.
Seattle’s rental vacancy rate jumped to 5.4 per cent—five times that of the GTA.
Ontario’s government has doubled-down on rent controls, which mandate how much landlords can charge renters.
Brooklyn is as populous as Toronto but less than a third as large geographically.
Typically, secondary suites can be cheaper to rent than apartments.
In neighbouring Burnaby, it takes only a third the time it does in Vancouver to obtain a permit.
On average, it takes more than 15 months to get a permit to build a new housing unit in Vancouver.
Rent control has been a disaster wherever it’s been tried. But this never stops politicians from suggesting it.