Remember when Leftists said that slowing down immigration levels would have no effect on the housing crisis, or that less immigrants would not make life cheaper? Well new studies report that if Canada continues with its mass immigration levels, the cost of living will continue to skyrocket even higher.
Rent could reach as high as $5,000+ a month, according to a study by the John Molson School of Business at Concordia University. Professor Erkan Yönder says that a 1% uptick in immigrants translates to a 0.6% hike in rent prices. Also keep in mind that this uptick does not include those who are temporary immigrants into Canada, which then would only increase the 0.6% to an even higher margin.
Think about it! Most immigrants live in major cities like Toronto and Vancouver, and yet those are the cities with a 72% surge in just basic apartment costs.
Is there any cure for this? Liberals want more immigrants and fast, while on the not so other hand, we have ‘Conservative’ CPC leader Poilievre stating that he will maintain the same levels of immigration as the Liberals, but just at a slower rate. Meaning not one of the two major parties will do anything about this information. Surveys have shown that in provinces like Ontario, 51% of Canadians have said that Canada is receiving too much immigrants. In 2023, Canada reported to have admitted over 400,000 immigrants, not including temporary foreign workers or foreign study permits.