by Wolf Richter
Wolf Street
The record 1.27 million immigrants that arrived last year have to live somewhere.
Canada’s population jumped by 1.27 million people in 2023, to 40.77 million by January 1, an increase of 3.2% from a year ago, the highest year-over-year growth rate since 1957 (3.3%), Statistics Canada said today in its report on the exploding growth of Canada’s population, driven by a huge wave of immigrants; 98% of the population growth came from immigration.
And this sudden population growth has been putting enormous strains on the rental housing market, where rents have spiked, and continue to spike. And it has had a number of other effects that pressure Canadians in their daily lives.