Addressing Canada’s housing crisis goes beyond simply reducing immigration

Desjardins Group’s chief economist, Jimmy Jean, argues that reducing immigration will not solve Canada’s housing crisis. Despite claims that high immigration levels and the cap on international student numbers are part of the problem, Jean believes the issue lies not in taking more immigrants but in not having enough in construction. He emphasized the historical consensus in Canada on the benefits of immigration. Jean used Hydro-Quebec’s investment plans, needing 35,000 construction workers, to illustrate Canada’s need for immigrant workers. He added that the debate in Canada is more balanced than in the US and emphasized the importance of doing better, not less.