Speaking from the developers perspective, this article is absolutely correct. A rental crunch is already here and rising rents and the prospect of it will keep rentals rolling in. CMHC top-up helps and more rental projects will certainly happen but financiers bullishness is still lagging somewhat as interest rates rise and compress cap rates.
I am a renter so feeling like I’ll get boned on the next rental increase and sure I won’t have better options. Frankly, Canada has absolutely fucked itself when it comes to matching up providing adequate housing and its immigration rates. I don’t know how we plan on housing everyone we are planning on coming in and sometimes it feels like a politically convenient way to keep boomers riding high on equity they’ve built. That seems to come at the expense of existing renters and those new incoming Canadians, feels like a bit of a scam. Anyways here is an article I think covers it as well, presuming it’s not blocked due to lack of subscription:
https://theline.substack.com/p/jen-gerson-no-one-is-going-to-fix
