The Future of Housing in Canada: Renting Forever?

👇 𝐒𝐜𝐡𝐞𝐝𝐮𝐥𝐞 𝐚 𝐜𝐚𝐥𝐥 𝐰𝐢𝐭𝐡 𝐁𝐋𝐀𝐊𝐄 𝐂𝐇𝐀𝐍𝐂𝐄𝐘 🗓 𝐡𝐭𝐭𝐩𝐬://𝐛𝐢𝐭.𝐥𝐲/𝟑𝐗𝐖𝟏𝐪𝐏𝐱 📞 𝐂𝐚𝐥𝐥 𝐨𝐫 𝐓𝐞𝐱𝐭: 𝟔𝟎𝟒-𝟕𝟖𝟖-𝟎𝟒𝟖𝟎 𝐁𝐋𝐀𝐊𝐄 𝐂𝐇𝐀𝐍𝐂𝐄𝐘 Personal Real Estate Corporation  Award Winning REALTOR® For 15 Years ΓEA⅃ Broker Canada is quietly becoming a nation of renters. In 2026, most new housing being built across the country isn't homes you can buy — it's rental units. In this video, Vancouver Realtor Blake Chancey breaks down why builders in Vancouver and Toronto are switching from condo towers to purpose-built rental towers, what the pre-sale condo crisis has to do with it, and what this shift means for renters, buyers, and the future of Canadian real estate. Key topics covered in this video: Why Canada's housing starts dropped 6% in June 2026, and what CMHC says the country actually needs to build every year through 2035 Why 58% of new homes being built in Canada right now are rentals, not homes for sale How the pre-sale condo crisis and "shadow inventory" are stalling new condo construction in Vancouver Why government incentives make rental housing more profitable to build than condos A real cost breakdown showing why Vancouver condo towers no longer pencil out financially for builders ($1,500-$1,600/sqft to build vs. $1,300-$1,400/sqft in sales) The pros and cons of Canada's shift toward rental housing, including institutional ownership and rising rents A real example of new rental pricing at the First Nations Land towers in Vancouver What this all means for first-time home buyers and renters across Canada Frequently asked questions: Q: Why are so many rental towers being built instead of condos in Vancouver? A: Rising construction costs, land costs, and interest rates have made condo construction unprofitable on many Vancouver projects, while government incentives make purpose-built rental housing more financially viable for builders to construct instead. Q: What is the pre-sale condo crisis? A: It refers to already-built condo units sitting unsold and empty, sometimes called "shadow inventory," because builders sold them years in advance and the finished supply hasn't been absorbed. This is stalling new condo construction in cities like Vancouver. Q: Does more rental supply mean lower rent in Vancouver? A: Not automatically. More supply can help renters negotiate, but landlords generally don't lower rent unless they have to, so rents can stay high even as more rental units come online. If you found this video helpful, hit subscribe for honest, no-fluff updates on Vancouver real estate and the Canadian housing market. If you're in the Greater Vancouver area and need help buying or selling a home, my contact info is on my channel page — I'd love to help however I can. I'm Blake Chancey with Real Broker. 0:00 - Canada's Housing Problem: Why Building More Homes Isn't Enough 0:24 - Renters for Life: Why Buying a Home Keeps Getting Harder 0:40 - Canada Housing Starts Fall 6% in June 2026 0:55 - CMHC Housing Targets: How Many Homes Canada Actually Needs 1:10 - The Real Story: 58% of New Homes Being Built Are Rentals 1:36 - Vancouver and Toronto Switch From Condos to Rental Towers 1:51 - What Is the Pre-Sale Condo Crisis? 2:15 - Shadow Inventory: Why Unsold Condos Are Stalling New Construction 2:38 - Government Incentives Driving the Rental Housing Boom 3:11 - Rising Construction and Land Costs Are Killing Condo Projects 3:26 - Real Vancouver Example: Why Condo Construction Doesn't Pencil Out 3:49 - Condo Projects Switching to Rentals Mid-Construction 4:08 - Why More Rental Supply Is Actually Good News for Renters 4:38 - How Housing Construction Impacts BC's Economy and Jobs 5:11 - Downside 1: Big Institutions Are Buying Up Rental Buildings 5:36 - Downside 2: Fewer Homes for Sale Could Push Prices Higher 5:59 - Downside 3: New Rentals Aren't Affordable Housing 6:14 - Real Example: Rental Prices at the First Nations Land Towers 6:38 - Why More Rental Supply Doesn't Always Mean Lower Rent 7:09 - A Realtor's Honest Take on Vancouver's Housing Imbalance 7:35 - Lessons From Vancouver's Interest Rate and Contract Clause Mistake 7:50 - Finding a Better Middle Ground for Vancouver Housing 8:23 - Final Thoughts and How to Reach Blake Chancey Blake Chancey is a top 1% REALTOR® with Real Broker serving Tsawwassen, Ladner, South Delta, Boundary Bay, and the wider Metro Vancouver and Lower Mainland real estate market. On this channel, Blake breaks down what is really happening in Vancouver real estate, covering condo market risks, presale and distressed development issues, construction slowdowns, interest rate impacts, and government housing policy, with a direct, data-driven approach so buyers and sellers can make informed decisions. Blake Chancey is a client driven agent, providing a simple proven process to help his clients achieve their goals. Subscribe for weekly Metro Vancouver housing market updates, or visit theblakechancey.com to connect about buying or selling in South Delta and the Lower Mainland.