The demand for housing in Canada has exponentially outstripped the supply, especially in major cities. The Canada Mortgage and Housing Corporation (CMHC) has highlighted a yearly gap of 400,000 homes. With an existing stock of around 16 million units - a combination of condos, townhouses, and single-family homes - projections indicate a demand of 22 million units by 2030 to ensure affordability for all Canadians.
Canada's immigration policy remains ambitious. Current immigration levels are set at 465,000 for this year alone. Future targets suggest an increase to 485,000 for the upcoming year and an astounding 500,000 for 2025. While most Canadians acknowledge the positive cultural and economic impacts of immigration, these figures also underline the immediate need for substantial housing and infrastructural developments.
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Canada is facing a housing affordability crisis, especially in major cities like Toronto and Vancouver. This is due to the demand for housing outstripping supply, leading to skyrocketing prices and making it difficult for many to afford housing.
Significant immigration inflows are putting pressure on Canada's already strained housing infrastructure, contributing to the rising demand and escalating housing prices in urban centers.
Projections indicate a demand for 22 million housing units by 2030 to ensure affordability for all Canadians. This is against the backdrop of an existing stock of around 16 million units.
The National Housing Strategy Act of 2019 was introduced to accelerate new home construction. However, the outcomes haven't met expectations, with only about 106,000 homes added under this initiative, barely impacting the housing deficit.
In spring, Ottawa expanded the TFW program to help employers access more low-wage labour for longer periods, aiming to alleviate labour shortages. This included raising the low-wage workforce cap from 10% to 20% in most industries and up to 30% in sectors with chronic shortages.
Since the Liberal government came to power, the use of foreign labour has increased significantly, with over 775,000 temporary work permits issued by the end of 2021. This marks a 92% increase from 2015 and a 600% increase from 2000.
Economists and labour groups have expressed concerns that the increased use of temporary foreign workers might lead to the exploitation of these workers, suppression of wages, and reliance on cheap labour instead of investing in productivity enhancements.
The TFW program is primarily used for farm workers, with over 312,000 positions approved in agricultural streams from 2017 to 2021. Other significant users include tech companies like Amazon, and the hospitality industry, especially for positions like cooks and food service supervisors.