Awani Review

Complete News World

Housing crisis: What to expect on July 1?

According to data from the Canadian Mortgage Corporation, it is increasingly difficult to find (affordable) housing in Montreal.

• Also read: rent increase to $7,448 per month for vulnerable seniors; The minister intervenes

• Also read: Collapse risk: Evacuation of 3 apartment buildings in Montreal

• Also read: Real estate: a decline in prices that will not continue

The company also expects another increase in rental rates in the near future due to the limited number of available units.

The vacancy rate has continued to decline over the past few years. reaching 1.6% in 2023, while it was close to doubling (3%) in 2021.

The trend is for modest, small and inexpensive housing in Greater Montreal this year, in the current inflationary context.

At least that’s what the founder of the app, Grégoire Gervais-Vachon, says.

Annick Tremblay, a Rosemont homeowner, confirms that renters who pay a favorable rate no longer dare to leave their homes for fear of losing a preferential rate, confirming the trend.

“People, when they have cheap housing, don’t move,” she says.

See also  Quebec has 745 new cases