_News Talk 770
It could soon be more difficult to find a place to live in Calgary. The city's resurging economy is starting to have an impact on the rental market with vacancy rates edging down and rents gradually increasing. Gerry Baxter, Executive Director of the Calgary Residential Rental Association, says over the last 8 months or so the vacancy rate in our city has slowly fallen to around 2 or 3 percent. He says many landlords are "nearing capacity", which is much different that it was a couple of years ago. Baxter says company relocations to Calgary and the availability of jobs are bringing more people here, which is forcing the vacancy rate down. However, he's quick to point out that there are still a lot of units available, but notes some are seeing modest rent hikes.