Forced into larger apartments
While I now own my own house and feel fairly secure I remember trying to rent in Fredericton ~5 years ago.
What stuck with me was when I asked my landlord if there were any one-bedroom units available for us (we had been forced to rent a two-bedroom as it was all that was available). She replied that she always asks her company to build more one-bedroom units as she saw tons of people like us looking for them, massive demand. However, they never listened and kept building two-bedroom units. And this was one of the big 2 rental companies students would rent from.
this supply shortage is now worse due to the influx of people we're seeing. But it was already here, by design, by landlords. Measures must be taken so we're not just building apartments that people don't want and cannot afford but are forced to pay the premium just for a roof over their heads.
I only escaped renting in Fredericton due to a generous down payment from my in-laws (really!). My 3 bedroom house, with property tax, costs only slightly more than I was paying in rent ~5 years ago and rent has only climbed since then. That a renting student trying to go to school while supporting themselves has to pay nearly what I do for a $160k house is insanity.
Consultation has concluded