1.5 million over 5 years are a rookie numbers. We did 1 million just last year. And our housing minister of housing in Canada just bought his second rental property.
Housing speculation in Canada is a national industry. The assholes in both the major parties will never lift a finger to do anything about it because either they, or their baby boomer voters, are all hyper invested in making sure Number Goes Up for housing.
Look at the way Poilievre foams all apoplectic at the mouth about the BoC raising its rate (as if it's Trudeau's choice what that # is... but whatever) while at the same time blaming Trudeau for inflation. His boomer bosses need their mortgages to stay cheap and their housing prices to stay high, no matter what.
Real estate is something absurd like 20% of Canada’s GDP, isn’t it? What may have started as greed has evolved into something vital to the country’s existence. You can’t just crash Canadian real estate without having a major negative impact on the country.
Government spending by Trudeau has packed on insane debt levels making inflation worse. It took Canada 150 years to reach a level of debt that Trudeau managed to double. 1.2 Trillion and 151 billion a year debt payments. Given up plans to ever stop spending more than taking in.
Inflation make that 1.2 trillion worth less (and everyone elses money). It's a strategy. Trudeau doesn't control the rate directly but he is still sending out larger and larger cheques for votes and keeps spending on social programs and military spending like the money supply is unlimited. Having a second house means little when there are bigger paydays
What’s the limit on the amount of real estate you own before you become unable to understand or empathize with the homeless?
Does this work with other vocations? Should spinsters not be allowed to teach or care for children? If you don’t own a car you can’t become a car mechanic?
I'd note that this number gets thrown around a lot, but it was <500k permanent residents, the 1 million figure includes >600k temporary work/study permits and asylum claims.
> Does it really matter what status folks come over with?
Yes, because it also matters if we're talking about residencies (shelter) or residents (people).
Numbers are arbitrary to keep things simple:
start, 100 population, 40 residencies.
2018: Add 10, of which 2 are temp
2019: Add 10, of which 9 are temp
Assume no population losses. What's your current (2019) population? It COULD be 120, but not necessarily. We know it's at least 109 (100+8+1 permanent) so lets look at what happened to the 11 temps specifically.
Keep in mind temporarily granted residency typically needs to be renewed yearly if not more frequently. If one is in country for Jan-Apr and a second in July-November, then you had a net population gain of 0, a gross gain of 2, and a median gain of 1, and could have required 1 or 2 residences to accommodate them. 0 - 2 technically but lets assume we're doing our best to shelter people.
Then the question is, until you know what the 2019's 9 temp residents are going to do, you can't really call them a net gain for the purposes of talking trends of population. You can however use them when talking housing supply, as regardless of how long they're staying, they will be there at SOME point, and while there, yeah, they need a place to stay.
TL;DR: For this threads context, probably better to think of temps as "pending" residents.
Well it doesn't matter for this year, but it makes for a very different trajectory - there's no reasonable way that we net +600k temporary residents every year.
Look at the way Poilievre foams all apoplectic at the mouth about the BoC raising its rate (as if it's Trudeau's choice what that # is... but whatever) while at the same time blaming Trudeau for inflation. His boomer bosses need their mortgages to stay cheap and their housing prices to stay high, no matter what.
Canada is corrupt and eats its young.