Australian Politics Australian Property Global Macro

Canada shows Australia how to fix housing

Tuesday 21 July 2026

Canadian Prime Minister Mark Carney recently touted that his government had “taken control of immigration”, noting that “asylum claims are down by a third, temporary foreign worker arrivals are down by half, and international student arrivals are down by 60%”.

Carney said that “we can now build a sustainable immigration system consistent with Canadian values”.

Canada is a case study in how cutting immigration alleviates demand in the rental market.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.