How Did Rental Rates Get So High?
In a recent article, Doug Porter, Chief Economist for BMO, revealed a startling reality: rents in Canada have surged by 8.2% year over year, marking the fastest pace since 1983! Moreover, for the first time in 60 years of records, income growth has trailed behind rents by a significant margin. These figures set the stage for a profound discussion with local Property Manager and founder of Greater Vancouver Tenant and Property Managment, Keaton Bessey. Adding to the narrative, November's Repor...