Canada's surging cost of living fuels reverse immigration
Canada's surging cost of living fuels reverse immigration
The dream of making it in Canada is turning into a battle for survival for many immigrants due to the high cost of living and rental shortages.
There is a discussion on Hacker News, but feel free to comment here as well.
Reverse immigration? If only the were already a word for that 🤔...
Yes, it's as if the opposite of immigrate is, oh I don't know, emigrate? I'm not sure if the writing is bad or if they assume their readers are too dumb and would miss the meaning
ya the cost of living is insane, Is anyone keeping up these days? I keep referencing that south park episode where Randy is like "hey south park kind of sucks now you guys wanna bail?" Just not sure where I'd go.
The cost of living has always been "good" in canada, but most of that was affordable rent and mortages. During the real estate craze people from all over the world freely purchased all sorts of land in Canada, even to this day.
Now we have this huge bubble of investors and private equity firms trying to make good on these inflated investments, hoping they can pass the buck to the tax payer while people are barely surviving. Rent has doubled in the main cities and nobody is getting a 20-30% raise.
This is the best summary I could come up with:
Trudeau has made immigration his main weapon to blunt Canada's big challenge of an aging and slowing population, and it has also helped fuel economic growth.
Cara works three part-time jobs, making Ontario's minimum wage of C$16.55 per hour, and goes to an adult learning school to earn university credits.
While the numbers are small now, lawyers and immigration consultants warn that a pick-up could cast a shroud over Canada's appeal as the one of the favoured destinations for newcomers.
On average in Canada about 60% of household income would be needed to cover home ownership costs, a figure that rises to about 98% for Vancouver and 80% for Toronto, RBC said in a September report.
Myo Maung, 55, migrated to Canada from Myanmar over three decades ago and made a successful career as a real estate agent and a restaurateur.
Stankus, who pays C$2,000, including utilities, for a one-bedroom apartment, said increasing living expenses has made it difficult to afford basic necessities.
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