Canadian Apartment Properties Real Estate Investment Trust T.CAR.UN

RE:BNN today

[Defiance2050]

Possibleidiot01 wrote:

RENT SURGE BOOSTS CAPREIT

Earnings season can feel like an endless stream of numbers, but my word, did this one grab me: rents on turnover apartments at CAPREIT, the nation’s largest residential landlord, surged 24 per cent in the fourth quarter. A few factors at play here – keep in mind there’s no rent control when tenants move out and are replaced by new renters – but the main one appears to be the impact of higher interest rates and subsequently tougher stress tests keeping potential buyers out of the market and into rentals, driving results. Sticking with that affordability trend, it’s interesting to see this play out at a time when Canada is trying to figure out its purpose-built rental strategy and simultaneously planning to bring in a record number of immigrants to shore up economic growth, without a clear-cut plan on how to house everyone.

Doesn't suprise me. There is still demand to rent as people need to live somewhere. With rent control it is unlikely to ever catch up to what demand will be in a place like Canada where things are never built. I think its more lack of supply more than unaffordability of houses; because being realistic there are plenty of people out there that will never be in a position to where they can afford a house.