New York Times Admits that Mass Migration is Spiking Housing Costs in Canada
Jose Nino
In a recent piece published at the New York Times, Ian Austen conceded that mass migration has created upward pressure on Canadian housing. As a result, many Canadians have been priced out of homeownership due to this influx of migrants.
“Basically southern Ontario has become unaffordable” real estate agent Bryan Adlam said to the newspaper. Adlam continued:
“I have two clients I have right now whose budget is $500,000 to $600,000, which is not chump change,” he stated. “Are they going to be renters for life? Probably. Has owning a home become unattainable for someone on the lower income echelon? I would say, yes.”
Neil Munro of Breitbart News cited a Canada Mortgage and Housing Corporation report published in 2021 which noted the following:
House price surges in Toronto and Vancouver between 2015 and 2019, partly owing to much higher international migration, [and] were the catalyst for significant changes in domestic migration patterns within their respective provinces.
In addition, the rising house prices also contributed to the displacement of young Canadians, which the 2021 report observed: