A. Q.  Mufti

A. Q. Mufti

Sales Representative

RE/MAX Performance Realty Inc., Brokerage *

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416-908-5600
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905-270-2000
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New 'substantially' higher newcomer numbers means good news for housing market

Canada's federal Immigration Miniser John McCallum is expected to announce 'substantial' increase in newcomers to Canada.

Its expected to raise the number new imigrants coming to Canada from 300,000 to 450,000 for the next five years.

Canada is a country of immigrants; aging population and shortage of labour force are key factors to increase the new comers to the country to offset the balance.

While there are number of other programs such as federal economic immigration programs processed through Express Entry Selection System, various imigration programs at provincial levels, including Quebec Skilled Worker program, the bulk of new immigrants this year came throiugh family reunificaton and refugee/humanitarian programs.

The Minister is targetting this 'substantial' increase in immigrants to focus on economic programs to resolve labor shortages in the country.

Some experts have expressed their concerns to have the system ready to absorb these newcomers into the labor market.

Having said that, Canada will remain in need of influx of newcomers to the country and besides these having them seeing part of the workforce their first and foremost need wold to find a home for themselves and their families. So there has been, and would remain for the foreseeable future, demand for housing and perhaps even more so than ever with the highest number of immigrants coming to Canada.

As the experts in demographic studies the population growth is not linera but it is exponential that means as their children grow up they also would need homes for themselves.

So its all good news for the housing industries that contributes billions of dollars to the country's economy and produces millions jobs every year.

 

A. Q. Mufti is a Realtor and certified PMP, his detailed can be found at http://www.aqmuftirealty.com/about_me/25723

For further references please the following sites:

http://www.cbc.ca/news/politics/canada-immigration-levels-2016-1.3825548?cmp=rss&CMP=news-digests-canada-and-world-evening

http://www.cicnews.com/2016/08/canadas-immigration-minister-seeks-substantially-increase-immigration-numbers-088449.html

 

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