Canada’s Immigration Minister Marc Miller admitted that the current housing crisis “absolutely cannot be solved without the aid of new immigrants who bring their skills [with them].” In order to meet the building demand, the country will need to rely on the historically high number of immigrants coming into Canada. The 2024 prediction comes to 451,000 people arriving from other countries, with 2025 numbers expected to hit 500,000.
According to Miller, about 60 percent of those crossing into Canada come as economic migrants and include many skilled workers that can help build more housing. Another 20 percent of visas go to family reunification situations, and the final 20 percent cover refugees and individuals seeking asylum. In fact, Canada considers immigration a robust way to bolster the country’s labor shortages.
Specifically, vacancies in the construction industry have reached an all-time high and lead to higher building costs and lower productivity. This need has led the federal government to create a special entry process for newcomers who have experience in skilled trades. The Canada Mortgage and Housing Corp. forecast recognizes that without help, supply will fall 3.5 million homes short of the need by 2030.
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