Modern and new apartment building. Multistoried, modern, new, and stylish living block of flats. Real estate. New house. Newly built block of flats
According to the Canadian real estate association average home prices in Canada have been dropping however housing prices in big cities have skyrocketed due to a lack of affordable housing. this has led to a forty percent decrease in home sales compared to this time last year.
this is in combination with the fact that Canada has experienced the most population growth in seventy years and the fact that new houses are not being built at a rate fast enough to provide housing for this new growth, which perfectly tees up Canada for a major housing crisis in the future.
experts have said that it would take an increase of fifty percent in home production to compensate for the increasing population. however, this is very unlikely to happen as the Canadian construction industry is experiencing massive worker shortages. however, Canada's minister of immigration has stated that Canada's labor shortages are being helped by the increase in immigrants.
"we can actually use immigration to mitigate these challenges rather than exacerbate them"
Sean Fraser Canadas Minister of Imagration
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