Why Canadian home prices are bulletproof | Forexlive
You’ve probably seen some version of these two charts before, they highlight the insane run-up in Canadian house prices compared to their richer neighbours to the south.
It’s led to outrageous house prices and looks unsustainable, especially with benchmark 5-year benchmark Canadian mortgage rates near 5% but the market hasn’t cracked.
Here’s the char that explains why, from @benrabidoux. It shows Canadian permanent resident admissions, including a record 183,000 admissions in April alone. Canada is adding 1 million immigrants per year to a population of 37 million.