Canada’s housing market is facing an unprecedented strain as vacancy rates plummet to a historic low of 1.5%, driven by surging immigration and a shortage of housing supply. Major cities like Montreal, Toronto, and Vancouver, where newcomers predominantly settle, are particularly affected. The federal government has responded with initiatives, including the extension of the $1.1 billion Interim Housing Assistance Program (IHAP) and new rental housing construction incentives, while continuing to address the unique challenges faced by immigrants, especially racialized individuals and women, in securing affordable housing.
Canada’s housing crisis deepens amid immigration surge
