The 2006 vacancy rate in Vancouver was .7% which means that per 1000 rental units, only 7 were vacant....this does not bode well for the average renter trying to find decent accomodation. And as most renters know, the rental rates are very high in Vancouver. Some people rent because they don't think they can buy. I have found that usually people can do a lot more than they think when it comes to buying a home-once they sit down with a mortgage broker (no cost service) the results can be amazing-let us know if you would like the name of a broker.
As I always tell my own tenants: Every month they put money into the garbage and I as landlord pick it out and put it into my pocket.....
I think the answer to the question is above is: rent only as long as you have to and buy as soon as you can!
