Canada Dilemma Lower Home Prices or Higher Immigration

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New research from Statistics Canada indicates that Canada faces a difficult choice between higher immigration and lower home prices. The country will be home to around 1.45 million new immigrants by 2025, with many looking to purchase a home. However, stringent zoning rules and cheap financing have already driven up prices, even without significant foreign buying or permanent residency. As a result, the report argues that changes to zoning are necessary to accommodate new arrivals, particularly in cities such as Toronto and Vancouver. Such changes could include the development of medium or high-density housing and the conversion of city-owned land into affordable housing and nature parks.