https://www.forexlive.com/news/canada-just-posted-its-fastest-two-month-immigration-in-history-what-happens-next-20240321/
So - the bottom line is we have a growth problem. And interestingly if you put the rise in housing prices up against this graph since 2015 they look pretty similar.
The housing problem is already severe but in 2023 housing starts went DOWN. And this immigration is going to continue at about this level for at least this year and most of next.