Rents Are Dropping… So Why Expand Rent Control?

Rents are finally falling across Canada. But will it last? In this episode of Classonomics, Sabrina Maddeaux and Mike Moffatt break down new data from the CMHC showing rising vacancy rates, record rental supply, and the first meaningful relief for tenants in years. They explore why an influx of new housing and slower population growth are pushing rents down, and what that reveals about how housing markets actually work.But the conversation goes deeper: from the real impact of immigration on housing demand, to the heated debate over rent control and new policy changes in Manitoba that could reshape the market. Will government intervention protect renters, or make the housing shortage worse? And what happens next as Canada’s population growth slows and hundreds of thousands of new units come online? 00:40–01:38: Introduction: Rent Control in Manitoba and the Risk to New Housing Supply01:38–02:58: CMHC Report Findings and the Impact of Supply on Decreased Rents02:58–03:46: The Link Between Immigration Policy and Housing Scarcity03:46–04:27: Future Rental Market Forecast: Supply-Demand Mismatch04:27–05:38: Developers' Investment Decisions Based on Future Immigration Targets05:38–09:24: The Core Debate: Personal Experience, Stability, and Rent Control's Impact on Supply09:24–10:26: Detailed Breakdown of Manitoba's Bill 13 Rent Control Expansion10:26–12:36: Controversy Over Above Guideline Increases (AGI) and Renters' Need for Stability12:36–15:14: Concerns Over Sustainability, Discouraging Investment, and Who Should Cover Landlord Costs15:14–16:17: Final Thoughts on Bill 13 and Conversation ConclusionResearch/Links:NDP plan to expand Manitoba rent control protectionshttps://www.cbc.ca/news/canada/manitoba/manitoba-residential-tenancies-changes-renters-9.7125916Big rent hikes — a made-in-Manitoba problemhttps://www.policyalternatives.ca/news-research/big-rent-hikes-a-made-in-manitoba-problem/Rent control killing jobs: landlordshttps://www.winnipegfreepress.com/breakingnews/2026/04/07/rent-control-killing-jobs-landlordsBill 13 - THE RESIDENTIAL TENANCIES AMENDMENT ACThttps://web2.gov.mb.ca/bills/43-3/b013e.phpHosted by Mike Moffatt & Cara Stern & Sabrina MaddeauxProduced by Meredith MartinFunded by the Neptis Foundation https://neptis.org/