Houses for sale in Ottawa

“Canada needs to address that in a smart way, and that means attracting a younger segment of the population to make sure that people can retire with same expectations and benefits that their parents had. That’s the stark reality of it,” Miller added.

In the previous year, the total arrivals of foreign students, temporary workers, and refugees amounted to one million. Critics say that population upswing caused a strain to major urban centres and intensified the country’s housing shortage.

In a recent survey by Abacus Data, 61% of surveyed Canadians said they believed the immigration target was too high. Sixty-three percent (63%) said that the number of new immigrants would have a negative impact to the housing market.

“From many people’s perspective, the growth that Canada experienced hasn’t been matched with an increase in infrastructure. It’s putting a strain on public opinion toward immigration more broadly. We’d be foolish to assume that Canada’s immune to the same forces that have affected other countries,” said David Coletto, Abacus Data’s chief executive officer.

Stefane Marion, National Bank Financial’s chief economist, urged the government to revise the immigration target to leave room for housing construction efforts to catch up with the growing demand. He said that homebuilders cannot keep up as immigration caused an imbalance in the housing market.

Source link
Ottawa New Listings

Leave a Reply

Your email address will not be published. Required fields are marked *