Housing crisis: Feds stick by immigration plan, rethink international student flows

📆 8/16/2023 2:29 PM
📰 CTVNews

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Academics, commercial banks and policy thinkers have all been warning the federal government that the pace of population growth, facilitated by immigration, is making the housing crisis worse. But the Liberals are doubling down on their commitment to bring more people into the country, arguing that Canada needs high immigration to support the economy and build the homes it desperately needs.

The alarm bells are becoming bull horns: Canada's housing supply isn't keeping up with the rapid rate of population growth.

"Looking at the levels that we have recently approved as a cabinet as a government, we can't afford currently to reduce those numbers," Immigration Minister Marc Miller said in an interview with The Canadian Press. The federal government's latest immigration levels plan, released last fall, would see Canada welcome 500,000 immigrants annually by 2025.Although the half-million figure has caught considerable attention, it's not just higher immigration targets that are driving the surge in population.

Earlier this year, hundreds of people were suspected of being caught in a fraud scheme that saw immigration agents issue fake acceptance letters to get students into Canada.The increased scrutiny of Canada's immigration policies and population growth comes as the country faces a housing affordability crisis caused in large part by a shortage of homes.

The rebound of the Canadian real estate market this year also shows how immigration is helping to maintain demand for housing, despite decades-high interest rates. For the federal Liberals, the relationship between population growth and housing prices jeopardizes public support for its immigration policies.

Miller said the federal government needs to carefully examine reports on housing and population growth, but he also raised concerns that some of the critiques are motivated by bigotry.

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