Canada is pulling back on immigration after a disasterous attempt to use it as stimulus. Building on top of this year’s reduction to temporary residents such as foreign students, the country will see state-mandated de-growth. For the next two years, the population will shrink in a attempt to stabilize housing after policymakers’ promises to triple homebuilding fail to materialize. Canada delivered its biggest affordability measure in years—shrinking its population. That was the takeaway from a new report from BMO Capital Markets this week. The bank has repeatedly warned that promises to triple the new homes built and create affordability with supply, weren’t grounded in reality. Now that Canada is quietly acknowledging this failure, they see real affordability on the way as scaled up building meets a shrinking population. https://betterdwelling.com/canadian-real-estate-prices-to-correct-after-immigration-cuts-bmo/