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Canada's problem is much bigger than real estate. Adding 3%+ of your population yearly drives down wages and increases housing costs. Canada not building enou
by ipaddr 3y ago
Canada's problem is much bigger than real estate. Adding 3%+ of your population yearly drives down wages and increases housing costs. Canada not building enough housing to support that influx is only part of the problem.
- hn_throwaway_99 3y agoWhy do you say "3%+"? Googling "Canada population annual growth rate" brings up a chart that shows an annual growth rate that never exceeds 1.5% over the past 30 years. Canada's growth rate was significantly higher that the US from 2016-2020, but otherwise doesn't really look that different.
- slily 3y agoThis was in the news for a bit: https://www150.statcan.gc.ca/n1/daily-quotidien/230927/dq230927a-eng.htm https://www150.statcan.gc.ca/n1/daily-quotidien/230927/dq230... (+2.9%). These immigration statistics make it clear: https://www.statista.com/statistics/443063/number-of-immigrants-in-canada/ https://www.statista.com/statistics/443063/number-of-immigra... This started after Trudeau was re-elected for the second time, but he has been consistent in calling for increased immigration. I guess he expected it to be his last term and decided to go all out. Of course, considering the timing (housing crisis and stagflation) that's a bad look.