Immigration Rate: Toronto and Speculation Tax

immigration rate: Even proponents of the provincial Liberals' new speculation tax conceded it accounts for only five to eight per cent of purchases, according to Toronto Star. The major explanation for mismatched supply and demand is domestic new homes not keeping pace with Toronto's 1.6 per cent annual immigration rate an increase in population of over 100,000 a year a local economy that's actually doing quite well, and the irruption into Toronto of an ascendant set of values that can be attributed to an already landed, prospering immigrant class. Rene Johnston / Toronto Star By Noah Richler Tues., April 25, 2017 Here's the rub about the red-hot housing market in Toronto it's not foreign buyers that are driving it. The latter is not a racist suggestion as, to an extent, the foreign buyers charge is but the tail end and proof of the arguments we use to justify welcome new arrivals, typically portrayed as hardworking and with the drive to augment Canadian prosperity. When finally she rented, it was from a new Canadian who believed as a certain fictional character in my own family's past did that a man without land is nobody. To wit one of my wife's daughters has been looking for a property for a year. (www.immigrantscanada.com). As reported in the news.