Canada’s population hit a record high of 41 million. The country added 1.27 million residents in 2023, the fastest growth rate in 66 years, most of it from temporary immigration. Ottawa is deliberately courting skilled migrants, offering anyone with a U.S. H-1B visa automatic permanent residency, among other incentives and routes, to boost its labor force. It’s working, but at a cost: Rent inflation was at an annualized 10% in January, as the country struggles to build the homes it needs. One analysis suggested that Canada needed to build 170,000 new dwellings every three months, but was struggling to manage 220,000 a year. |