Rising housing prices are not due to immigration per se. Housing prices are often highest in places that, proportionately, are not growing especially fast. Victoria in Canada, vs Edmonton? San Francisco/NYC in the USA vs. Phoenix/Houston?
If they are due to immigration then it is no different than the demand induced by migration from the hinterlands.
Nimbyism, lack of land to expand housing, zoning and development policies/priorities, tax policies regarding principal residence, rock-bottom interest rates and lax lending policies are more to blame for stratospheric housing inflation.
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The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts. (Bertrand Russell)
Last edited by MolsonExport; Sep 21, 2020 at 7:01 PM.
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