Desjardins’ recent report reveals that Canada must increase its housing construction by a staggering 50 percent to accommodate the influx of new immigrants. Canada is expected to commence construction of roughly 210,000 housing units this year, according to Desjardins Securities. However, the same report indicates that there will be a demand for an additional 100,000 residential projects in preparation for the nation’s highest-ever intake of immigrants over the next two years. With a critical housing deficiency in Canada, economists and real estate professionals forecast that the issue will only become more alarming. Considering the federal government’s plan to welcome 1.45 million new permanent residents over the next three years, it is essential that housing starts becoming a priority.
