Last week, I presented detailed data on how the sharp reduction in net overseas migration (NOM) in Canada, which turned negative last year, has suppressed rents. After experiencing explosive rental growth in 2022 and 2023 amid record NOM, Canada has experienced 17 consecutive monthly declines in rents: Canadian rents are now tracking at a 33-month
The post The evidence is clear: immigration drives rental growth appeared first on MacroBusiness.