I had this same argument with someone the other day. I was saying that the immigration plans should help the housing market, especially condos. And the person I was speaking with replied, “They will want houses. No one wants condos.” And I responded you act like they have a choice.JayLove06 wrote: ↑
It's really simple. There simply aren't enough houses to house people. Immigrants may be coming here for hosues, but that doesn't mean that's what they will get. Condos are the entry point into the market. People for the most part don't just enter the market buying a $1.5M detach. Universities will start, travel and hospitality will pick up, etc. These people need accomodation. Clubs will start again, sports, etc. The world is not ending.
Urban living will not go away. Maybe condos change a bit but they will still be built in the future and will be sell better than houses. If houses were around the same price of condos, sure...but houses are far higher than condos and many will never be able to afford them. Ever. Many won't even be able to afford to buy condos. The rental market will pick up. We will have travellers, club goesrs, events, master planned communities will go on and planned.
Canadians can complain all they want about immigration. It's happening and it needs to happen. Until Canadians can get off their asses and have more children, we will need immigrants.
People talk as if there is unlimited SFH. There are not. There are actually very few in comparison with our apartment and condo supply. And even the multi-family units won’t be enough to satisfy demand.
And I agree as well with the birth rate issue. As long as our birth rate remains low, say HELLO to more immigrants. Will our culture change because of it? I think so. When we add so many new people from so many different backgrounds they will bring their culture, foods, etc. with them. And it enriches the country and makes Canada special. Canada is an immigration country so that will happen.
Called the bottom.