- 20 Nov 2023 20:08
#15295942
The man in this video goes over point by point why immigration will not be saving Canada's housing market (like some have tried to claim).
Rather than leading to a construction boom of new houses, more likely it's just going to lead to a shortage of already existing cheaper older homes.
Most of these immigrants simply don't have the money to prop up a construction boom of big expensive new homes.
If anything, it will just make the more affordable homes more expensive, putting them further out of reach of lower income Canadians.
Moreover, Toronto and Vancouver, the big city areas where immigrants today are mainly moving to, and where immigrants are most likely to obtain jobs with higher incomes, also have shortages of available building space for more homes, and have the opposite problem from too little demand; these cities have too much housing demand.
Rather than leading to a construction boom of new houses, more likely it's just going to lead to a shortage of already existing cheaper older homes.
Most of these immigrants simply don't have the money to prop up a construction boom of big expensive new homes.
If anything, it will just make the more affordable homes more expensive, putting them further out of reach of lower income Canadians.
Moreover, Toronto and Vancouver, the big city areas where immigrants today are mainly moving to, and where immigrants are most likely to obtain jobs with higher incomes, also have shortages of available building space for more homes, and have the opposite problem from too little demand; these cities have too much housing demand.
- By Tainari88
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