NORTH VANCOUVER – “Most people take it for granted but almost all of the purpose-built rental housing stock in Canada was built entirely because of federal subsidies and tax incentives in the 1960s, ’70s and early ’80s.”
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“When the federal government axed that program, it killed all rental development across the country,” said David Sander, director of Hollyburn Properties, one of the largest rental firms in Canada. “There needs to be continual redevelopment and increase of rental supply in order to have a healthy rental market. We’re at the stage where we haven’t had any rental built in 30 or 40 years and everybody’s all of a sudden wondering why it’s so unaffordable.” –
Read the feature on rental housing by Brent Richter in the North Shore News here. and in
