Canada's supercharged immigration is stalling wages and hiking house prices, but the nation's elite is demanding more migrants.
of temporary migrants with temporary visas without blaming their high-immigration policy.
The government’s massive inflow of consumers and renters into Canada’s economy is causing shortages of housing, healthcare, and education slots. The policy is also reducing the average productivity of workers, which determines family wages and national wealth, partly because many of the migrants come from countries with no tradition of high-quality education,The same changes are occurring in the United States as President Joe Biden’s deputies use their bureaucratic power to smuggleThe country’s housing prices remain among the highest in the world even after a rapid and hefty rise in interest rates, according to data compiled by the...
Canada’s aggressive immigration “camouflaged the real underlying problem in this country, which is a lack of business investment and productivity,” said David Rosenberg, former chief North American economist at Merrill Lynch and now head of Rosenberg Research. This is showing up in everything from stressed public-transportation, roads, healthcare and housing, he said.
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