Commentary
Canada’s political class is beginning to acknowledge the impact of immigration on the country’s housing crisis.
While this recognition is a positive first step, addressing housing affordability requires a deeper look at the unsustainable levels of immigration in Canada. Existing federal government measures are insufficient, and major immigration reform is necessary.
A recent report from the Aristotle Foundation highlights the significant role that unsustainable immigration levels have played in Canada’s housing shortage. The percentage of non-citizens in the population has increased rapidly, leading to a disproportionate impact on the real estate market.
The influx of immigrants has outpaced new housing construction, creating a demand-supply imbalance. Renters, particularly vulnerable groups like seniors and young professionals, are feeling the pressure of rising housing costs.
The Aristotle Foundation report emphasizes the need for reducing immigration levels to alleviate the strain on the housing market. Canadians across various demographics support this sentiment, with a majority expressing concerns about high immigration levels.
Recent immigration restrictions have shown some early signs of easing rental market demand. However, the average rent in Canada remains high, posing challenges for many residents.
Aligning immigration policies with housing capacity is a crucial step, but more actions are needed to address the ongoing housing crisis in Canada.
Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times.
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