Over the past two years, Canada has welcomed a whopping 2,076,942 new Canadians with a massive portion of that number coming from immigration policies enacted by the Federal Liberal Government, significantly outpacing the construction and availability of new housing. This imbalance is raising serious concerns about the future of housing affordability, inflation, and mortgage interest rates not just for New Canadians, but Canadians already living here! In this video, Alex McFadyen (The Mortgage Pug), Mortgage Advisor at Flow Mortgage Co., tackles the pressing issue of how immigration is destroying Canadian housing affordability.
Topics Discussed:
📊 Population Growth vs. Housing Supply: We dissect the stark contrast between the surge in immigration and the lag in new housing constructions, highlighting the data behind Canada's population growth and its impact on housing supply. Not to mention, we're only building 1 or 2 bedroom condo units!
📈 Immigration and Mortgage Rates: Explore how increased demand from newcomers might influence the Bank of Canada's decisions on interest rates, potentially affecting all Canadian mortgage holders.
🏡 Real Estate Market Consequences: Understand the direct correlation between immigration-driven population growth and the escalating prices in the Canadian real estate market.
🛠 Governmental Measures: We propose actionable suggestions for the government to address and mitigate this burgeoning crisis effectively.
🌟 Opportunities for You: Despite the challenges, there are opportunities within the Canadian real estate landscape. Discover our strategic advice for those looking to navigate this market.
This video is a must-watch for anyone concerned about or affected by the current state of Canadian real estate and housing affordability.
Join us as we delve into the complexities of how immigration policies are reshaping the landscape of Canadian housing and what it means for future homeowners and the market at large.
🎙️ Make sure to check out our brand new podcast, "The Flow: Real Estate & Money Show" wherever you listen to podcasts. podcasters.spotify.com/pod/sh...
🌐 For detailed insights and tailored advice for the Canadian market, don't forget to visit www.getflowmortgage.ca/. And, if this content lights a bulb for you, give us a like, share, and make sure you're subscribed to Flow Mortgage Co.
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#canadaimmigration #immigration #canadianeconomy #housingmarket #investing
Timestamps:
0:00 Introduction
0:40 Population Growth Versus Housing Supply
2:07 Analyzing The Data
4:02 Overall Population Growth
4:26 Impact To Mortgages
5:00 What Can The Government Do?
5:40 Potential Impacts to the Canadian Housing Market
7:16 Our Suggestions For You
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