Canada's Immigration Cuts Aim to Narrow Housing Shortage

The Parliamentary Budget Officer projects significant reduction in housing gap by 2030 with new immigration targets.

The Canadian government plans to reduce immigration levels from 485,000 to 365,000 by 2027, aiming to stabilize the housing market.
The Parliamentary Budget Officer estimates this will reduce the housing supply gap by 534,000 units, nearly half of the current projection.
Despite the cuts, Canada is still expected to face a shortfall of 658,000 housing units by 2030, necessitating the construction of 2.3 million homes.
The PBO warns of risks in achieving these reductions due to uncertainties in non-permanent resident outflows.
Opposition parties and experts express concerns over the potential negative impacts on population growth and economic factors.