CdnFox Posted May 16, 2024 Report Posted May 16, 2024 Immigration to Canada surges in April, worsening outlook for housing affordability - The Globe and Mail (archive.ph) National Bank economist Stéfane Marion warns housing affordability woes are set to worsen amid another surge in immigration levels, “The demographic shock is getting worse in Canada. The working-age population (aged 15 and over) rose by over 100,000 in April, bringing the total to over 410,000 after 4 months in 2024. As today’s Hot Chart shows, this represents a sharp acceleration (+47%) on the 278,000 increase recorded in the first four months of 2023. In Greater Toronto, where population growth reached a record 107,000 at the start of the year, the acceleration is 66% compared to the growth seen in 2023. Greater Montreal and Greater Vancouver have not been left behind since the start of 2024, with growth more than double that seen in 2023. Conclusion: with Ottawa having announced its intention to limit immigration from 2025, it would seem that many people have decided to come to Canada earlier. Housing affordability problems could worsen over the next few quarters, as we head for another record year of population growth.” Jebus Kerist!! How does this guy not get it? If he keeps letting in THAT many people when housing starts are actually DOWN then there's going to be a disaser!!! Quote There are two types of people in this world: Those who can extrapolate from incomplete data
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