Bank of Canada Report Says Immigration Driving Up Housing Prices, Inflation

Bank of Canada Report Says Immigration Driving Up Housing Prices, Inflation
A new home is displayed for sale in Ottawa on July 14, 2020. Sean Kilpatrick/The Canadian Press
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Canada’s addition of 2.3 million new immigrants in recent years is driving up housing prices, increasing spending, and exacerbating inflation, a Bank of Canada report says.

The report highlighted three main areas impacted by increased immigration numbers: housing, labour markets, and consumption.