Increased property values mean fewer apartments available, and fewer people can afford to buy. Part 3 in a series
By Samantha Craggs and Joe Engelhardt, CBC News
When John Hawker moved to Hamilton 10 years ago, it took him one day to find what he was looking for.
He had simple criteria: a nice apartment within 10-minute walking distance from city hall. As a self-described municipal politics junkie — a “municipaholic,” as he puts it — he was tired of Toronto and wanted to move to Hamilton.
He and his wife found their new home on the first day in the form of a two-bedroom apartment at the corner of MacNab and Robinson in the historic Durand neighbourhood.
Hawker loves where he lives, and he can afford it. But he worries that future generations of renters will lose that opportunity.
Hamilton’s housing prices are hot — trending ever upward, outpacing the country in a number of recent reports. Some neighbourhoods have seen an increase of 100 per cent in housing prices in the past 10 years. But that hot market for buyers and sellers has another side: It’s impacting the rental market in unique and worrying ways.