Rents could exceed $7.5K in Vancouver, $5.6K in Toronto without massive spike in building

A study by Concordia University predicts that by 2032, average monthly rents could reach $7,500 in Vancouver and $5,600 in Toronto if current trends persist. To prevent this, housing supply must increase significantly, requiring development to be six times faster. Low vacancy rates are affecting supply and demand, and rents may only decrease when annual completions hit 11-12% of existing housing stock. Specific zoning policies are advised.