Canadian Population Growth and Trends

Canadian birth rates are in the dumps.  Immigration could be Canada’s sole source of population growth by 2030, according to a Scotiabank report quoted in the Globe & Mail.

Other notes from the Globe story:

  • According to the article, immigrants generally rent when they come to Canada. 

(Editor:  If you’re new to Canada don’t let this deter you from buying.  Several new mortgage options have become available for immigrants in the last few years.)

  • Immigrants typically buy homes after they have lived in Canada for at least 10 years 

(Editor:  If this is the case it is clearly based on past data.)

  • Tens of thousands of immigrants are set to become first-time homeowners in the next few years
  • The segment of Canadians aged 65 and older will skyrocket 65% in the next 10 years
  • Senior citizens tend to prefer new construction and low-maintenance options, such as condominiums.
  1. We bought six months after arriving. Despite a large downpayment etc there were significant roadblocks thrown in the way of our getting a mortgage. I’m convinced we only got one through a woman at the bank becoming my personal advocate in the bank. In my experience (and my social circle is a veritable united nations) most immigrants would buy as soon as possible.

  2. We bought six months after arriving. Despite a large downpayment etc there were significant roadblocks thrown in the way of our getting a mortgage. I’m convinced we only got one through a woman at the bank becoming my personal advocate in the bank. In my experience (and my social circle is a veritable united nations) most immigrants would buy as soon as possible.

  3. Hi Guinness,
    Appreciate the insight.
    I found the Globe’s statement about waiting 10 years a bit strange myself.
    It’s definitely based on PAST circumstances because today’s mortgage options are significantly improved for recent immigrants with full-time employment in Canada.
    We handle mortgages for new Canadians frequently so I know from experience that they WANT to buy, and that there ARE several mortgage products available.
    Thanks for reading!
    Melanie

  4. Hi Guinness,
    Appreciate the insight.
    I found the Globe’s statement about waiting 10 years a bit strange myself.
    It’s definitely based on PAST circumstances because today’s mortgage options are significantly improved for recent immigrants with full-time employment in Canada.
    We handle mortgages for new Canadians frequently so I know from experience that they WANT to buy, and that there ARE several mortgage products available.
    Thanks for reading!
    Melanie

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