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Notes -
Canada is also importing PRs at a rate that is frankly insane -- something like 5x that of the US per capita, and heavily concentrated in ~3-4 major cities. It's debatable whether the capacity even exists to build 100k+ units per year in these places, and the strain is showing. (in addition to turning those cities from pretty nice places to overcrowded unlivable hellholes over the past couple decades, with the possible exception of Montreal; I haven't been lately)
I don't think they're that concentrated. Every province is getting a lot of immigrants.
https://www.statista.com/statistics/444906/number-of-immigrants-in-canada/
I'm surprised to see that many heading to Saskitoba TBH -- I would not have imagined the huddled masses yearning for a better life in Moosejaw. But I think my point stands. (other than that the GTA has technically been a bit of a hole since Justin was in short pants -- there's a lot of ruin in a town I guess)
Nova Scotia is also getting a lot of immigration. Most my life, we had very little and there was basically no population growth. Now, it seems like half the population downtown is Indian. I also see a lot of immigrants in smaller towns. Most of them are only here temporarily to get their PR though before they move to Toronto. But the immigration rate of any Canadian province is about as high as any US state.
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Montreal is getting fucked slower than the other major cities, but it is still getting fucked.
The effect is slower because Montreal attracts poorer immigrants (as french speakers are prioritized), so the immigrants that arrive here are more competing at the bottom for rents than for houses and condos, but the effect at term is the same, as high rents push more renters to consider ownership.
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