Rental Crunch: Part 1

Battle for a dwindling stock of available suites nears crisis levels in B.C.
By Kent Spencer, The Province

Seventy per cent of B.C. renters say that if they wanted to move, they would find it difficult or impossible to find another rental.

That statistic, according to a poll commissioned by The Province in partnership with Landlord B.C. and conducted by the Mustel Group, sums up the rental-housing crises emerging in B.C.

As housing prices get further out of reach, more and more people are turning to rentals to put a roof over their heads. But for various reasons — rent control, higher profits on condo sales — very few new rental apartment buildings are being constructed. Renters are in greater supply and landlords are having a hard time keeping up.

Based on this survey, The Province presents a four-part series on the rental crunch in B.C.

Today, in Day 1, we look at the issue of supply and demand.

We also break down the numbers in an industry that generates $10.6 billion in economic activity every year. Click here for the full article.