“rents and jobs are still fine in Calgary, just move here” apparently actually caught on a bit too much
The reverse Tinkerbell effect.
According to an August 2023 report by Rentals.ca, apartment and condo listings in Montreal saw a year-over-year increase of 15.3 per cent — a growth outpaced only by Brampton, Ont., (18.6 per cent) and Calgary, Alta., (16.1 per cent).
Still sucks to be renting in Montreal, Brampton or Calgary.
I’m guessing Brampton has a lot of exposure to the Brampton mortgage and variable rates.
This is the best summary I could come up with:
Touted in recent years as one of Canada’s most affordable big cities, Calgary’s rental prices are now increasing faster than any other large market in the country.
The report found that in July, the price of a one- and two-bedroom rental increased by 17 per cent year-over-year — the highest jump in the country.
“With the vacancy rates as low as they are, we kind of don’t expect these prices are going to change until we see a mass build of purpose-built rentals across the country,” said Ladas.
In fact, the report shows Vancouver and Toronto continue to hold that spot, with Calgary in 26th place.
“This requires lots of reform in larger municipalities and their land use divisions to really help incentivize projects to go bigger and faster,” said Ladas.
That organization manages rental and rent supplement programs on behalf of the city of Calgary and the province of Alberta.
The original article contains 601 words, the summary contains 150 words. Saved 75%. I’m a bot and I’m open source!
