It's crazy that Vancouver's rental vacancy rate has averaged 1.3% over two decades. It's also crazy that old Vancouver planners think we should listen to them
It's crazy that Vancouver's rental vacancy rate has averaged 1.3% over two decades. It's also crazy that old Vancouver planners think we should listen to them
@DenySully Butting in for a very quick second: I think the 3% target is doing us a world of hurt. It's way too low.
@AdamMongrain Would be great to have more cushion, but 3% vacancy Halifax was sooo much better than 1% vacancy Halifax
@DenySully Yes yes it's evidently much better to be at 3% than to be at sub 1% (as many Québec municipalities are). My broader point is that 3% vacancy is not a loose or healthy market by the standards we should set for ourselves.
@DenySully 7%. In Toronto, Montreal and other cities in the North America, this seems to be the tipping point from which rent growth lags behind inflation. I also very much like this natural experiment which sets brackets for market tightness based on voucher absorption rates. ->
@DenySully huduser.gov/portal//Public… Very tight: <2% Tight: 2-4% Moderate: 4-7% Loose: 7-10%
@AdamMongrain @DenySully You can’t apply US standards to Canada. Vacancy is measured differently there x.com/vb_jens/status…
@AdamMongrain @DenySully You can’t apply US standards to Canada. Vacancy is measured differently there x.com/vb_jens/status…
@LeoSpalteholz @DenySully This is a fair point but CMHC's own data indicate that rent growth slowed down to 0-1% in Montreal when the vacancy rate reached 7% in the 90s. It's also the reason why @HousingNowTO says the best rent control we have is a 7% vacancy rate.
@AdamMongrain @DenySully @HousingNowTO I don’t believe that’s accurate (rent growth usually peters off at about 3% vacancy in Canada) and 7% is not a realistic target. @vb_jens has written extensively on this. doodles.mountainmath.ca/posts/2022-02-…