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Eviction rate raises concerns over Lower Mainland economy

Location
Vancouver
Publish Date
2021/09/28

Metro Vancouver’s abnormally high residential rental eviction rates are a warning sign for the region’s economic development. According to UBC, Metro Vancouver’s 5-yr eviction rate is 10.5%, far higher than Toronto's 5.8%, Montreal's 4.2%. Metro Vancouver is likely seeing a demographic shift with more people looking to rent homes long-term. Renters are a crucial portion of the workforce, and if they can’t afford or be certain they won’t be evicted, that ultimately affects the level of service. It’s believed that rental is a phase in which renters are on the road to homeownership, but with the economic changes, it’s becoming the destination. Overall, renters living in B.C. were x1.7 more likely to be evicted within the previous 5-yr compared with those in a province like Ontario.

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