Quote:
Originally Posted by chemgear
I don't think anybody is solely blaming immigration for the housing situation. But all these extra people are going to have to live somewhere and significantly drive up demand for housing.
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Agreed. Simple supply and demand. As Belsarius pointed out, the cost of construction materials has also climbed significantly, making new builds way more expensive.
You can kinda compare it to vehicles. When the price of new vehicles is so high, people look to used vehicles instead, driving up the price. And of course the shortage of new vehicle supply for a period also contributed (same as housing).