Why I am not afraid of being a renter!
Currently less than 1% vacancy for purpose built buildings. In the future, there's a lot of supply coming on line.
You already know that a third of Cambie Corridor Phase 3 will be purpose built rentals. viewtopic.php?f=8&t=129673
Fact is that CoV has been doing a fantastic job of providing rentals. Lots of good stuff in Metro Vancouver's Housing Data Book (revised March 2017).http://www.metrovancouver.org/services/ ... a_Book.pdf
In Page 2.2 and 2.3, these are the important numbers for CoV. 2006 housing starts 3,534, 2016 housing starts 9,759. Ten Year Average 4,883. Five Year Average 6,118.
2006 Housing starts for purpose built rentals 244 (7% of total housing starts). 2016 Housing starts for rentals 3,245 (35% of housing starts). Yes, you may be surprised by this number. I an no longer afraid of being a renter in the years ahead. In addition to the large increase in purpose built rental buildings, the vacancy tax is going to be a big help in the near term.viewtopic.php?f=8&t=129675
FYI, this chart shows the housing starts for Metro Vancouver. Enjoy.