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Specifically in regards to 2: Canada constructed 244,025 new homes in 2021[0] (this includes new condos and apartments). By comparison, Canada allowed 401,000 n
by HideousKojima 5y ago
Specifically in regards to 2: Canada constructed 244,025 new homes in 2021[0] (this includes new condos and apartments). By comparison, Canada allowed 401,000 new permanent residents through immigration in 2021[1]. Now obviously some of those immigrants are going to be families that only need one home, but basically almost all of the new housing supply being created in Canada is so small that it could be bought up by the new permanent resident population. And that's before you get into temporary visas, asylum seekers, illegal immigrants, and foreign investors buying up housing as a store of wealth and letting it sit vacant, and we haven't even gotten into the demand from the rising generation of young Canadians looking to enter the housing market.
0: https://www.theglobeandmail.com/business/article-canadian-housing-starts-hit-record-in-2021-rising-21-per-cent/ https://www.theglobeandmail.com/business/article-canadian-ho...
1: https://www.canada.ca/en/immigration-refugees-citizenship/news/2021/12/canada-welcomes-the-most-immigrants-in-a-single-year-in-its-history.html https://www.canada.ca/en/immigration-refugees-citizenship/ne...