❄️ Starts cool in Q3, but rental construction hits record highs in Metro Vancouver.

🏗️ Catch-up era: 30-year rental supply gap drives current “renaissance.”

⚠️ Land sales drop 61% amid entitlement delays and rising development levies.

💰 Policy shifts and CMHC changes may crimp future multi-family supply.

👀 Developers adapt to immigration policy, slower population growth, and family-sized housing needs.