From my right-wing biased perspective, I believe that one of the main reasons the Liberals have been successful in recent elections is the "Wealth Effect" from people thinking they were doing alright because of the increasing house values. Now with higher interest rates causing house prices to go down, the only way we can turn around the slide in prices is to increase the demand, and that is where immigration comes in.
As people have said, the Liberals will set policy to get votes, which is not always in the best interest of our country. Lowering immigration will reduce the demand for housing and bring the demand/supply situation into balance. Sure the prices may go down further, but most rational people think they should.
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