Apartment rental vacancies in Canada's major metropolitan areas increased slightly in the latest month as homeownership became more affordable and growth in youth employment slowed, according to a Canada Mortgage and Housing Corp. survey. "Rental construction and competition from the condominium market also added upward pressure on vacancy rates," said Bob Dugan, chief economist at CMHC. The average rental apartment vacancy rate in Canada's 35 major metropolitan areas increased to 2.8% in October 2009 from 2.2% in October 2008.
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