Similar peaks in the departure of citizens and permanent residents have only been seen twice in Canadian history, in 1968 amid a housing bubble in Canada that saw professionals fleeing to the United States, and in 2017 during a regional real estate bubble that mainly occurred in three provinces.
Past Peaks
The 1968 real estate peak saw rampant land speculation, with a speculation tax eventually introduced in Ontario in 1974 to halt soaring property prices.This Canadian exodus coincided with a booming U.S. economy and tighter restrictions on Canadians working in the United States under the U.S. Immigration and Nationality Act of 1965, which went into effect in July 1968.
The 2017 emigration peak also aligned with a real estate peak, with around 80 percent of emigrants in the second quarter of 2017 hailing from B.C., Quebec, and Ontario, according to Better Dwelling.
Living Abroad
In 2017, the countries with the highest number of those born in Canada living abroad were the United States at 893,491, the UK at 91,545, and Australia at 56,651, according to a 2022 Statistics Canada report.Alberta was also the only province last year to grow in terms of interprovincial migration, experiencing a surge of more than 30,000 people moving to that province from within Canada.







