Pinnacle One Yonge | 344.58m | 105s | Pinnacle | Hariri Pontarini

Northern Light · Jun 5, 2022

allengeorge said:
Is this actual population growth? Because not all immigrants stay. And the last I read, intention to leave had climbed a fair bit because of higher prices (especially if you’re well-educated, the US offers more opportunities and the possibility of lower living costs - at least when you’re younger. It didn’t use to be this way.)

Canada's actual population growth by year from 2018 (as compared to the year before, factoring in natural growth and deaths/emigration)

2018 - 3.2%
2019 - 1.4%
2020 -1.1% *1
2021 -0.7% *1
2022 - 1.3% *estimate

*1 affected by pandemic and associated travel/immigration restrictions/delays

AHK · Jun 5, 2022

Undead said:
Not really. Others will correct me if I'm wrong, but I believe our immigration/population growth rates are the same as they've always been. The residential boom is first and foremost caused by low interest rates

Please do not forget the impact on the ongoing reduction in the average family / household size - has been going on for decades. When the average family had more than three children, the number of housing units required for a given amount of population would have been far less than required for today's demographics.

So while the aggregate population growth, including net immigration, has been a factor in the overall demand for housing units, as has the recent period of lower interest rates, the reduction in size of the number of individuals in the average household size has also been a major factor in the increase in demand for housing - one I believe may have been a major contributor to the residential housing boom.

Undead · Jun 5, 2022

DirectionNorth said:
Immigration rates have been increasing:
View attachment 404965
Per Wikipedia.

Nevertheless, higher interest rates are necessary for prices to decrease.

That's the raw number which will obviously get higher as the overall base grows. I think the rate itself has been pretty stagnant.

UtakataNoAnnex · Jun 5, 2022

DirectionNorth said:
Immigration rates have been increasing:
View attachment 404965
Per Wikipedia.

Nevertheless, higher interest rates are necessary for prices to decrease.

Thank you for posting this...

...but not to further this debate from the topic of the thread in question, but my position was for the city and not for the country as a whole. And as someone else also has pointed out, I'm more interested in population growth overall here and not just that of immigration.

I'll also restate that I do think interests rates will likely have an effect on slowing down the building rate regardless. But likely not as dramatically as some are claiming here...although I could be entirely wrong on that. /shrug

...and that's all I am going to say about that. <3

Koops65 · Jun 5, 2022

Toronto Model 06-05-22 Pinacle One Yonge.png

Towered · Jun 6, 2022

Northern Light said:
Not to sidetrack the thread, but the immigration target and its recent lift are interesting.

I used a compound interest calculator to look at how this tracks out if we sustain the current rate.

We're growing our population (via immigration) by roughly 1.15% annually.

Apply that to 38.8M and in 60 years, the year 2082 our population would be 92.8M

At the dawn of the next century, 2100, it puts the population of Canada at just over 114M

I'm struggling to picture a Canada with with that many people. Perhaps the GTA yellowbelt will be broken after all!