Good news for renters in the GTA: asking rents have been declining for over a year, reaching a 33-month low. Nationally, rents average $2,030, consuming 29% of renter household income, finally dipping below the affordability benchmark. This is largely due to a surge in apartment construction, with 193,000 units currently under development nationwide. However, experts warn this affordability window may be closing. Developers, facing rising interest rates and construction costs, might slow down new projects, potentially leading to a supply shortage as early as 2028. Will the GTA continue to see rental price declines, or is a rebound inevitable? Read the full article on Financial Post for more insights and analysis.
[https://financialpost.com/real-estate/garry-marr-renting-in-canada-is-better-than-it-has-been-in-years-but-for-how-long](https://financialpost.com/real-estate/garry-marr-renting-in-canada-is-better-than-it-has-been-in-years-but-for-how-long)
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