Metro Vancouver Rental Demand Soars, but Construction Lags

Metro Vancouver faces a rental housing crisis with insufficient construction despite soaring demand, a new report reveals. It highlights challenges like high interest rates and steep government charges, including Metro Vancouver’s plan to raise development costs by up to 250% in three years. The report suggests streamlining regulations and reducing fees to encourage development. However, the regional cost increases pose a hurdle, complicating efforts to address the pressing housing shortage.