Quote:
Originally Posted by BaddieB
Population decline? They only cut the 'rate' of immigration a measly 20%.
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Because the current volume of temporary residents in the country is so huge, reducing this inflow (as planned), will mean so many more temporary residents leaving than arriving, that this reduction in temporary residents will be larger than the ongoing (reduced by 20% as you say) flow of permanent residents, resulting in a population decline.
Of course, that relies on a number of factors, so the population may not actually decline, but certainly the growth rate will be very low for a couple of years as the pig passes out of the python, so to speak.
Still, in the same way that Vancouver was cushioned from the post-Covid collapse in commercial real estate because our market was so tight prior to Covid, the fact that we are currently buckling under a huge wave of immigrants will likely make it easier to adjust to a couple of years of slow volumes.
Also, interest rates coming down should help a lot to offset this as well.
Finally, completion of LNG Canada, Site C and Broadway Extension will all be big wins for the province, although this also means that the government should be looking at new capital projects to pick up the slack these completions will leave.