Apartment Rental Construction Set to Boom

A news item in the Globe and Mail predicts that major cities in Canada are about to experience a major boom in purpose built rental housing, the first such boom in several decades.  The article quotes several developers who are tired of buying expensive older apartment buildings that require major renovations and maintenance to be marketable.  The fact that mortgages are getting more difficult to obtain and the cost of construction is reasonable, based on the relatively low interest rates makes construction a more viable alternative for the developer.

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