PHOTO OF DETACHED HERITAGE HOUSE : DETACHED HOUSES ALL ACROSS CANADA ARE BEING DESTROYED AND REPLACED BY CONDOS (CLICK ON LINK BELOW) :
DETACHED HOUSE ON PRINCE EDWARD ISLAND ONCE LIVED IN BY LUCY MAUDE MONTGOMERY, AUTHOR OF ANNE OF GREEN GABLES–DETACHED HERITAGE HOUSES LIKE THIS ARE BEING REPLACED BY CONDOS ALL ACROSS CANADA AS BUILDING SPACE DISAPPEARS BECAUSE OF UNNECESSARY HIGH IMMIGRATION
Relentless Immigration Has Caused Canada’s Unaffordable Housing Crisis
Yet Incompetent Trudeau Continues to raise immigration intake to the highest level in Decades.
UBC Statistics Professor David Ley has shown in his book “Millionaire Migrants” that relentless immigration has caused unaffordable housing. Why do politicians and our deadbeat CBC and other media ignore the cause?
In looking at the 25 years, 1977 to 2002, Ley found a positive correlation co-efficient of 0.94 between Vancouver and Toronto house prices and net international migration.
Ley described this connection as “unusually decisive”. In other words, Ley was saying IMMIGRATION HAD CAUSED ASTRONOMIC HOUSING PRICES. IF HIGH IMMIGRATION CONTINUED, UNAFFORDABLE HOUSING WOULD CONTINUE.
Yet Trudeau, and premiers such as John Horgan, Doug Ford and hundreds of other politicians continue to say they are looking for the cause. None ever mention Professor Ley’s research! In fact, all of them seem completely unaware of Ley’s research.
Why are they ignoring the cause when it is generally acknowledged that unaffordable housing is the greatest social catastrophe that Canada has faced since Confederation. In other words, how is it possible that such ignorance and stupidity persists?
UBC Professor David Ley’s book focuses on wealthy immigrants who came to Canada through Canada’s Business Immigration Programme (BIP). He looks particularly at the beginning of the unaffordability cirisis : the influence of wealthy Asian immigrants on Vancouver and Toronto housing prices.
Ley’s findings are exceptionally important. They convincingly paint an extremely damning picture of Canada’s Business Immigrant Programme The research Ley presents shows readers that the BIP had been a disaster and that it should have been terminated soon after it started. However, some politicians are now calling for the Business Immigrant program to be re-instated!
David Ley’s research should have deeply embarrassed Ottawa and shamed it into issuing a real apology for a deadly wrong in contrast to the groveling apologies it has issued to crooked ethnic groups who never deserved an apology.
Between 1980 and 2001 alone, the BIP allowed about 330,000 immigrants (BI’s plus dependents) to enter Canada. Hong Kong, Taiwan and South Korea were the sources for over half of all the business immigrants landing in Canada. Three-quarters of those settled in British Columbia, probably almost solely in the Metro Vancouver area.
Ley says that to compound the problem, real median family income in Metro Vancouver actually fell by 3% between 1990 and 2000, creating “an unbreachable affordability barrier” for many families.
Ley’s book provides extensive background information. For example, he says that Canada began the Business Immigrant program in 1978 in the belief that Asian Business immigrants could easily transfer their success in Asia to Canada and create jobs for Canadians. However, Ley says that the majority of the BI migrants said from the start that economics was not an important reason for coming to Canada. Many were in their 40’s, had already made large sums of money and wanted a slower life style. In other words, a significant number of Business Immigrants subverted the entire purpose of the programme which expected BI’s to be economically active here. Inadequate government monitoring of BI’s kept important information from surfacing. In addition, in spite of government-commissioned audits which showed extensive BI fraud and failure, government allowed the BI programme to continue.
In addition, many BI’s found Canada’s tax system hostile, particularly Canada’s demand to reveal foreign assets. Many BI’s had operated in Asia with minimal labour restraints and few environmental regulations. In fact, according to one reliable source, many operated with two sets of books, one for Asian governments and another for themselves. In general, BI’s expected to follow the same corrupt practices in Canada.
Ironically, EX-CBC Reporter Kathy Tomlinson and others have uncovered extensive tax evasion and other fraud by Business Immigrants in Canada. We use the word “ironically” because CBC reporters have been notorious for hiding information that shows that recent immigrants have caused anything negative in Canada, particularly in Canada’s housing market.
For details, see these links :
PHOTO OF DETACHED HERITAGE HOUSE : DETACHED HERITAGE HOUSES ALL ACROSS CANADA ARE BEING DESTROYED AND REPLACED BY CONDOS (CLICK ON LINK BELOW) :
DETACHED HOUSE ON PRINCE EDWARD ISLAND ONCE LIVED IN BY LUCY MAUDE MONTGOMERY, AUTHOR OF ANNE OF GREEN GABLES–DETACHED HERITAGE HOUSES LIKE THIS ARE BEING DESTROYED AND REPLACED BY CONDOS ALL ACROSS CANADA AS BUILDING SPACE DISAPPEARS BECAUSE OF UNNECESSARY HIGH IMMIGRATION