Immigration to Toronto – Good or Bad for Real Estate?

Immigration to Toronto – Good or Bad for Real Estate?

I think oftentimes people are confusing immigration… now I have to sneeze… Well, that was awkward. Hey guys, Bradley tuning in. Coming at you with another video and today I want to talk about immigration. Coming into the GTA there is a huge debate. Every time I post videos, even unrelated to immigration, I get a lot of comments on the negative against immigration and positive for immigration and so this video comes with certain comments as well that I’ve seen that have been posted because I really want to discuss whether immigration into the GTA is beneficial or not. I want to share the negative aspects that I’ve seen other people say and some of the positive and allow you guys to decide. But before I get started, my name is Bradley Watson. I do videos like this all the time and this video, I really want to show that I am engaging you guys. I want you in this conversation. This is a dialogue. It’s not just me spewing information, which it is that too. If you’re getting value, make sure you hit that subscribe button, but otherwise I want to hear from all of you. I want to have an open conversation on what we can do with regards to immigration, but I also want to be open to the fact that there’s going to be different people watching this video. There’s going to be people who are coming from outside of Canada. Let’s say, can I afford to buy a house in Canada? And there’s going to be those of you who are local that maybe say, well, I can’t afford to buy one. I can’t afford to have a house here, and so I want to make sure that everyone feels like they are being properly represented in this discussion, and of course we’re not going to get into affordability. I’ve done other videos. In fact, I just did one on the election, but you’re going to want to check out last week. Check that out on our Watson Estates on Youtube. However, I do want to talk about immigration. I want to share it raw numbers with you and allow you to decide whether it is good or bad for our economy. Let’s start off with some of the arguments I’m hearing online against immigration. Indians and Chinese continue to offshore money into Canadian real estate because they know it’s a relatively safe bet. I find that online with all these trolls, that like to leave beautiful comments for me. They tend to confuse immigration with foreign buyers and they’re not necessarily aligned. Here’s another comment. This fewer rights. That’s a myth that new immigrants by housing in Toronto, it was busted by a statscan report, which trace ownership of all real estate transactions done in the GTA between 2009 and 2017 when prices consistently rose. If I recall two to 3% of the entire Dataset was brought by recent immigrants. Oh shoot, this is kind of awkward. So two to 3% why the heck am I making this video? Let’s check what statscan really has to say. Stats can tells us that non-residents owned 3.4% of all residential properties in Toronto and it goes on to say non-residents own 7.2% of condominium apartments. By comparison, they own 2.1% of single detached houses in Toronto and they were owned by non-residents. Well, there you go. So two to 3% is actually low, but we are speaking in this case specifically on non-residents. That’s money coming into our country without the person. There is no immigration happening here, but even still when we look at some of the polls, we find that according to global news, actually a majority of Canadians currently feel we are too welcoming to immigrants. So there is a lot of push back as far as new immigrants coming into our country. But if people aren’t generally excited about immigrants coming in, why is that? Is it because it’s causing such a challenge to our economy? Is it causing conflict? Is it competition for our affordability? And this is an opportunity for you guys down in the comments below to let me know what you think. Or if you’re feeling really passive, just hit that subscribe button. I’ll be okay with that too. But let’s move on to some of the pros. What are some of the advantages to having immigration coming into our country? According to statscan 43% of properties in Toronto are owned by immigrants. That means that they are making up almost half of our purchasing power here in the GTA. And again, this isn’t non-residents pouring money in. These are people who now live in our country and are becoming permanent residents and eventually citizens. So I would suggest that the fastest way to cut off all this demand that we’ve had pent up over the years and have really fueled the market here in Toronto. The quickest way to do it would be to remove immigration. I love what this viewer writes. The day you shut the door to the immigration office will be the day we see over supply. Immigration is the key to home supply, not Canadians, 1.6% birth rate and dropping. It’s true. There is all this demand and there is therefore a lack of supply. But if we were to remove all this demand and supply would be sufficient and I love the way that that was written, but let’s continue. Nearly half of our population here as far as residents are born in another country and have moved here. That makes us number two on the global scale. Next only to Miami. We have a lot of people born in other countries living here in Toronto and they’re anticipating another 300,000 people next year to come to Canada. It will continue to grow and there is a ton of immigration and our viewer is actually right. We have a birth rate here in Canada of 1.6 which means that without immigration we would have a declining population and a shrinking workforce. So having this immigration coming into Canada is completely necessary if we were to have a growth as far as population, and I would suggest subsequently a growth in our economy. At the end of the day, there is no denying that immigration has been a leading reason why home prices have grown the way that they have. But my question for you is having this immigration coming in, good or bad for us here in Toronto? I would love to hear your comments down below and have this dialogue. I’ll see you guys next time. Slam that subscribe button, take care and keep it real.

4 thoughts on “Immigration to Toronto – Good or Bad for Real Estate?

  1. Thanks for watching!
    Many people around the world are seeking the Canadian life.
    Let us know what you think – should we open the door, or slam it shut?

    Yours in Real Estate, Bradley Watson

  2. Canadian economy can adapt to any conditions. Today economy is growing and people keep purchasing goods because equity in real estate is growing and causes it. Remove this and Bank of Canada will be forced to print hell out of new money supply to keep same consumption levels as a year ago. You can roughly say CAD devalues 2-3 times with unemployment spike that never happened before. Another reason why immigration cannot be stopped is age pyramid of Canada, percentage of baby boomers is even higher than in countries like US and Canadians can't even afford their own life, while soon they will be forced to pay for 2-3 baby boomers each, unless you fix age pyramid with immigration. That's why politicians know it and its irrelevant what voters think about it.

  3. I must state, growth is not prosperity for your average citizen.
    There are two essentials in life food and housing and they are under constant attack by immigration inflation.
    Why a country that is so big and prosperous why this insane inflation, or is it by this insane growth within our immigration inflation system?
    Immigration is the key to Canadians future inferior growth of living or is it prosperity able to own?
    You and your children are going to pay a big price on your voting decision.

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