Petitioning Ottawa for a break on rental housing

The latest report from Canada Mortgage and Housing Corporation shows that average rents in Metro Vancouver are the highest in Canada, at $1,237 for a two-bedroom suite in a 1990s apartment building.  Vacancy rates in autumn 2011 were low and declining on the west side of the region — 1.2 per cent in Richmond, 0.7 per cent in the City of Vancouver and 0.4 per cent in the District of North Van.

The Metro Vancouver regional authority has warned for somet time that a critical shortage of affordable rental space is  hurting families and contributing to homelessness.  In the 2006 census, 55 per cent of homes in the City of Vancouver were rental properties, and more than 40 per cent in Burnaby, New West and  North Van City.  There’s demand for more units, but they’re not getting built.   Continue reading