Canada Mortgage And Housing: Finding An Apartment

Chief Economist Dept: Apartment vacancy rates in Canada are down due to improving economic conditions and higher rates of immigration. iStock In October, 2.6 per cent of rental apartments in Canada's major cities were available for rent, compared with 2.8 per cent in October 2009, according to CBC. "The economic recovery that has taken place over the past year has boosted demand for both rental and ownership housing," said CMHC's chief economist Bob Dugan and finding an apartment in most Canadian cities is a little harder these days as the economic recovery puts more demand on rental housing, according to the Canada Mortgage and Housing Corporation. The average cost of renting a two-bedroom apartment rose to $860 from $836 a year earlier. As reported in the news.
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