Oct. 05, 2015 | Joel Schlesinger
Will an increase in vacancy rates push down housing demand?
Calgary has long had a reputation as a difficult place to rent – a reputation confirmed for much of last year when the city's vacancy rate
hovered below one per cent.
Yet market uncertainty brought upon by oil patch woes have painted a much different picture in 2015, with Canada Mortgage and Housing Corp
. (CMHC) reporting vacancy rates in the city as high as 3.2 per cent.
While good news for renters, it poses as potential bad news for home sellers, notes ATB Financial chief economist Todd Hirsch