Opinion: While rental housing approvals surge, completions lag and, many fear, could soon get worse. And no one can live in an approval
A City of Vancouver news release this year touted 2,956 purpose-built rental homes being approved for construction — “the highest approvals in several decades.” And a news release last year heralded “historic approval numbers.”
While this is welcome, approvals are not the only statistic that matters. Figures from the city also show completions of rental homes lag far behind approvals.
And looking ahead, homebuilders,…