This is the definition of crisis:

Metro Vancouver’s rental vacancy rate drops to near 1% causing rents to soar.
https://www.vancouverisawesome.com/real-estate/metro-vancouvers-rental-vacancy-rate-drops-as-demand-prices-soar-cmhc-6440408 via @[email protected]

Metro Vancouver’s rental vacancy rate drops as demand, prices soar: CMHC

The rate for purpose-built rentals in the region fell below one per cent last year, while the average asking rent for vacant units jumped 43 per cent year over year

Vancouver Is Awesome