Canada is faced with increased demand for housing. According to Become A Canadian, Canada needs to prepare for ways to increase its housing as many immigrants are moving to the country.
The country welcomed more than 430,000 new permanent residents last year and desires to welcome over 465,000 new permanent residents per year between 2023 and 2025.
An expert at Become A Canadian established that an increase in the demand for housing is likely in the nearest future, and the country needs to prepare as more permanent residents come into the country.
“We are aware of the possible increase in the demand for housing as Canadian immigration surges,” says Kevin Lee, the CEO of the Canadian Home Builders’ Association (CHBA).
He continues, “Though the Canadian housing sector has come up with innovations such as modular housing to meet the ever-increasing housing demand, shortage of labor force is another factor we need to combat to meet the housing demand.”
Become A Canadian also corroborated Mr. Lee’s point by saying about 22 percent of the CHBA’s residential construction workers are due to retire over the next ten years.
Plans to meet the imminent demand for housing
While innovation is a sure way to tackle the imminent demand for housing as immigration surges in Canada, more construction workers will be brought into Canada to replace the retiring workers.
In Mr. Lee’s words:
“We need to rely heavily on immigration to backfill some of the open spots left behind by retired construction workers moving forward.”
Become A Canadian concludes that the housing crisis needs to be duly fixed to avoid any anti-immigrant sentiment.