New arrivals into Canada could hit 1 million this year, says economist, stoking housing demand higher than governments expect. Find out more
“Canada’s approach to housing supply needs to be rethought and done differently,” CMHC deputy chief economist Aled ab Iorwerth said in the report. “There must be a drastic transformation of the housing sector, including government policies and processes, and an ‘all-hands-on-deck’ approach to increasing the supply of housing to meet demand.
In 2022 that share plunged to 42 per cent. Tal said officially the net increase in new immigrants in 2022 compared to the year before was 31,000 or 7.6 per cent. But because more of the immigrants came from outside of Canada the actual net growth in housing demand was 131,700 or 108 per cent. The number of non-permanent residents coming into the country has swelled after COVID travel restrictions were lifted due to student visas, work permits and the Canada-Ukraine Authorization for Emergency Travel program. The CUAET provides eligible Ukrainians with temporary residency and an open work visa for three years.Article content
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Posthaste: Why Canada's housing squeeze could be worse than we thoughtNew arrivals into Canada could hit 1 million this year, says economist, stoking housing demand higher than governments expect. Find out more
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Posthaste: Why Canada's housing squeeze could be worse than we thoughtNew arrivals into Canada could hit 1 million this year, says economist, stoking housing demand higher than governments expect. Find out more
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Posthaste: Why Canada's housing squeeze could be worse than we thoughtNew arrivals into Canada could hit 1 million this year, says economist, stoking housing demand higher than governments expect. Find out more
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Posthaste: Why Canada's housing squeeze could be worse than we thoughtNew arrivals into Canada could hit 1 million this year, says economist, stoking housing demand higher than governments expect. Find out more
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Posthaste: Why Canada's housing squeeze could be worse than we thoughtNew arrivals into Canada could hit 1 million this year, says economist, stoking housing demand higher than governments expect. Find out more
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Posthaste: Why Canada's housing squeeze could be worse than we thoughtCIBC deputy chief economist Benjamin Tal suggests that Canada's actual increase in housing demand is far higher than official estimates
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