F.Y.I. – THERE’S A CRUNCH IN TORONTO’S RENTAL MARKET – TOO MANY RENTERS, NOT ENOUGH UNITS

F.Y.I. (for your information) RBC (Royal Bank of Canada) Economics Report estimates that as of 2018 TORONTO had a deficit of 9,100 rental units, compared to 6,800 units in MONTREAL and 3,800 units in VANCOUVER. The rental market is considered balanced when the vacancy rate is 3%, but in TORONTO, the average is below 1%.“Rental supply is unlikely to come close to demand in TORONTO in the coming years. Due to the high cost of owning, we project the number of renter-households will increase by an average of 22,000 per year.” – RBC Economics Report

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