Montreal's rising rental and real estate prices poised to be central to municipal election
CBC
Skyrocketing rents and real estate prices, short supply and a growing population have made housing in Montreal harder and harder to come by — and a hot municipal election topic.
"We have a market that is really tightened," says Jean-Philippe Meloche, a professor at the Université de Montréal's school of urban planning and landscape architecture.
"The supply is slow to come into the market and demand is rising faster than supply."
While the situation here may not be as bad as in Vancouver or Toronto, Meloche says, it still can be considered a housing crisis — one that is affecting not only low-income families, but more and more middle-class ones.
"The prices have gone up so far that a lot of people are priced out of either being able to rent or to buy," said Steve Baird, the director of Comité d'action des citoyennEs de Verdun, a non-profit organization that helps Verdun residents to find homes.
Between 2019 and 2020, rents in the city increased by 4.6 per cent, according to statistics gathered by the Montreal Metropolitan Community (MMC).
In Verdun, Baird said, the situation is particularly stark.