Rents could exceed $7.5K in Vancouver, $5.6K in Toronto without massive spike in building

A study by Concordia University predicts that by 2032, average monthly rents could reach $7,500 in Vancouver and $5,600 in Toronto if current trends persist. The research highlights the necessity for a significant increase in housing supply, suggesting development needs to be six times the current pace. Low vacancy rates are affecting supply and demand, with annual completions needing to be ten times current levels. Specific zoning and location-based policies are recommended to tackle the housing crisis.