Experts share their rental housing outlooks for 2024
BNN Bloomberg
Lawmakers across Canada have put a renewed focus on making housing more affordable, but experts predict chronic issues around pricing and supply will keep straining the country’s rental market in 2024.
“I don't see things getting better in the short term,” Steve Pomeroy, senior research fellow for the Centre for Urban Research and Education at Carleton University, told BNNBloomberg.ca in an interview.
Pomeroy expects a recent uptick in rental construction will partially alleviate the supply shortage in Canada, but he said it will take some time for renters to see meaningful relief.
“We've actually significantly increased our game in terms of adding new rental supply,” Pomeroy said, noting that the pace of rental construction has picked up in Canada in recent years.
