Description: Canada’s largest cities are getting bigger and more expensive, forcing hundreds of thousands of people to search for affordable housing elsewhere.Toronto, the country’s biggest urban center, saw nearly 100,000 people leave the area, with 78 per cent choosing to settle in other parts of the province over a one-year period to July 1, according to Statistics Canada data released Wednesday. Montreal and Vancouver, Canada’s second and third biggest cities, saw about 35,000 and 14,000 people exit, respectively.

Source: BNNBloomberg.ca – video report

Date: Jan 11, 2023

Link: https://www.bnnbloomberg.ca/people-are-leaving-canada-s-biggest-cities-amid-a-housing-crunch-1.1868764

Questions for discussion:

• Summarize the analysis of the industry.
• What does this mean for realtors, builders, and the banks?
• What would you advise investors?