Why the argument that immigration is the sole cause of soaring home prices is flawed

A contrary view to the role that large scale immigration plays a role in high housing prices. While the pandemic provides reasons for questioning the arguments, longer-term trends and analysis shows that it does in our largest cities. 
And citing long-term GDP per capita growth is misleading, as this growth was largely before 2008, with the past years characterized by fluctuations with no significant increase: 

A recent commentary suggested that the demand for new housing directly results from the net increase in population, which is mainly driven by immigration. According to Statistics Canada, “international migration has accounted for more than three-quarters of the total population growth since 2016, reaching 85.7 per cent in 2019.”

One can argue that if immigration is the reason behind population growth, which determines the demand for shelter, perhaps Canada should reconsider the number of immigrants it admits each year to ease the pressure on housing and infrastructure.

Source: Why the argument that immigration is the sole cause of soaring home prices is flawed

About Andrew
Andrew blogs and tweets public policy issues, particularly the relationship between the political and bureaucratic levels, citizenship and multiculturalism. His latest book, Policy Arrogance or Innocent Bias, recounts his experience as a senior public servant in this area.

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