Immigrants to save Canadian housing industry

December 22, 2009

Immigrants will save Canadian housing industry! Sounds impossible but it might quite possibly be true. At least according to a report recently released by Canada Mortgage and Housing Corporation (CMHC). Canada's population growth is not exactly great at the moment, and until 2036, it is going to slow down even more. This only means that fewer new households will be created. Thus we must count on immigrants to save the situation.

The report claims that net international migration accounted for nearly two-thirds of population growth in 2006. From 2007 until 2036, immigration may very well account for almost all of the projected growth in the population and for approximately 2.6 million additional households out of a total household growth of 4.6 million.

Interesting, isn't it? And also true. If the demographic situation of Canada will continue in its current trend, it will be people from outside who will save the economy of our country. But this isn't only happening in Canada - many well developed countries with low birth rates will probably end up like this. They will be saved by the immigrants, who, in many cases, are currently not really popular and welcome.