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Since Canada slashed net overseas migration from it’s peak in the March quarter of 2024, one of the last major remaining pillars supporting the already vulnerable Canadian housing market has been removed, leaving it on increasingly risky ground.
According to figures from the Bank for International Settlements, housing prices nationally are down by over 20% in Canada since the peak in the first quarter of 2022.
While the surge in migration to all time highs provided a temporary boost, it did not last and prices resumed their downward path amidst an atmosphere of high inflation, rising unemployment and arguably an overvalued market.
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About the author
Tarric is an Australian freelance journalist and independent analyst who covers economics, finance, and geopolitics. Tarric is the author of the Avid Commentator Report. His works have appeared in The Washington DC Examiner, The Spectator, The Sydney Morning Herald, News.com.au, among other places.
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