👉Rising rent costs in New Brunswick, up 9% from last October, triple the overall inflation rate, pose a severe challenge for apartment dwellers, exacerbating the cost of living. Affordability issues stem from a rapid population surge, overwhelming housing markets and outpacing construction. Home prices saw a 12.4% YoY increase, trapping tenants amid a 28.7% rise in average rent since October 2020, the highest among provinces. Food bank use surged 25%, affecting even employed individuals. Premier Higgs acknowledges housing challenges but sees them as positive amid population growth. Housing strategy targets 6,000 new units yearly, but only 4,401 were started recently.✅ . . #RentSurge #NewBrunswickHousing #RealEstateNews #HousingMarket #RentIncrease #CanadianHousing #NewBrunswickRentals #mnm #malayalisnearmeapp #canadaupdate #canadanews