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Really, what do you expect when you have close to a million immigrants coming to Canada this past year?
Why are those immigrants able to buy houses in Vancouver? How do they make their money?
@Nicol Bolas It’s not just Vancouver. It’s all of Canada, but mostly Vancouver and the GTA. Immigrants want to live where their friends are, not some place in Timmins, Ontario. We are not making enough supply to keep up with demand. You can’t just build houses out of thin air. It takes time. Increase of 1 million people versus 272,000 new homes built last year isn’t going to cut it. It’s unsustainable.
@joe97nsx It’s just that I keep hearing immigrants are buying all the expensive homes in the big cities, but Canada is supposed to have one of the best economies in the world which leaves me a bit confused. I’m not sure what the actual statistics are re: the type of homes that are bought by immigrants. I would be very interested in seeing that.
Also, is Canada able to require immigrants to move to live in small town for a certain number of years before re-locating? Sounds like that could be a reasonable condition for immigration.
@Nicol Bolas It’s not necessarily that they are buying all the expensive homes, all though some are, but whenever you increase any kind of demand it will impact the overall market. And Canada is not one of the best economies of the world. Its economy is heavily concentrated in banking and real estate and what’s left of its resource economy is being destroyed by government ideological, activist policies. If anything, we should really be letting the natives dictate immigration policy if we are serious about apologizing for past transgressions and not just creating virtue signaling holidays which disproportionately benefit those who aren’t actually indigenous.
@Nicol Bolasit’s not them buying the houses it that’s we bring more people here while there’s no houses being built or less than the amount of people moving here and it raises the price of houses/ land/ apartments , etc because supply and demand