Canada's Rental Market Reaches Crisis Levels with Soaring Rents, Undersupply, and Bidding Wars
• Canada is experiencing a rental crisis with October rents up 8.2% year-over-year, the largest increase since the 1980s
• Rents are chronically undersupplied across major cities like Vancouver ($3,200 avg) and Toronto ($2,900 avg)
• Atlantic Canada has seen the biggest rent increases (28.9% in New Brunswick over 4 years) despite recent population boom
• There is currently 1 housing start for every 4.2 people entering age 15+, showing imbalance between immigration and construction
• Bidding wars are breaking out over limited rental inventory, driving prices up