According to a report from the Royal Bank of Canada (RBC), Canada is predicted to have a rental housing shortage of 120,000 homes by 2026. RBC estimated that the rental market currently has a shortage of around 25,000 to 30,000 units and that an additional 332,000 units would be required to achieve rental stock balance and rent stability by 2026. The bank links the record demand surge and rent increases to high immigration levels, causing housing affordability concerns. The immigration targets are expected to rise by 8% by 2025, and the bank expects rental demand to remain high. The report recommends that the only way to meet future demand would be to see supply grow considerably through purpose-built rental housing units.
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