The COVID-19 pandemic "changed the game tremendously."
Low immigration and high out-migration, coupled with a job crisis, are pushing rental rates down.
Everything that could go wrong with a condo market seems to be happening right now.
The number of condos for sale has quadrupled in the space of a few months, and many more are on the way.
Meanwhile, Halifax has seen the steepest rent hikes in North America over the past year.
Units in some newly-built towers are losing up to $600 a month.
The usual sources of demand for apartments have all dried up.
Canada has a shortage of rental apartments, but developers are catching on.
Mortgage payments were the single largest contributor to the rise in consumer prices over the past year.
Canada's rental market has become so bad, parents are helping out with paying their kids' rent.