Immigration a boon to housing market
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Homebuilders have always understood and appreciated the importance of immigration to economic growth including housing demand. But even builders were surprised with the results of a landmark study commissioned by Canada Mortgage and Housing Corp. that analyzes the housing situations of immigrants arriving in Canada six months, two years and four years after arrival.
The study, called "Settling In: Newcomers in the Canadian Housing Market," is based on Statistics' Canada's "Longitudinal Survey of Immigrants to Canada." The authors, University of British Columbia professors Daniel Hiebert and Pablo Mendez, looked at immigrant homebuying patterns in the cities of Montreal, Toronto and Vancouver and determined that the degree of homeownership attained by immigrants just six months after landing in Canada was "impressive."
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