Hello guys, I've been following this forum since October 2019 but finally decided to participate here. It seems like we won't have a draw today though.
Ray of Hope - 139th Draw
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I am not too sure about this reasoning. The real estate prices in places like GTA are kept high due to the high influx of immigrants. Lot of investors are getting high rental yields and sky high capital gains due to new incoming immigrant's need for housing propping up the housing prices. If immigrants do not come in there will be a huge blow to the real estate market and consequently the Canadian economy. I think to prevent a recession due to crash in housing prices, they will not very easily decide to stop immigrants from coming in. Just my two cents
Yeah, maybe they stopped all the immigration related works for good till then. I'm afraid of the score if this happens. Our score is currently 450 but my husband sat TCF early this month in the hopes to boost it but I don't even think we will get his score on time.
The boom in real estate prices esp in GTA and Vancouver is primarily becoz of Chinese investors coming in and investing in property (another way to get a PR) and not because of EE immigrants who have to come and work in minimum wage.
You can judge me for this statement but it's fact.
And do u think the Canadian govt will risk allowing new ppl to come in (they've even barred Americans starting today) just so housing prices are up WHICH will prevent recession!? It's a laughable assumption sorry
Typically when rental prices goes up that pushes the property value up as well. For example if a property goes for $1000 rent, then using that $1000 rental income, an investor is able to pay a monthly mortgage loan of $1000 which translates to a purchasing power of $200,000. Similarly if the rent goes upto $2000, the same property is now worth $400,000 because the increased rent of $2000 now supports the higher property purchase price of 400,000 and it's monthly loan repayment. Not saying you are wrong, but just putting my reasoning out there that even though new immigrants might only rent, they indirectly push up the property values as well.
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The rumors are alive and well. Just like the coronavirus. You and I have no idea why there was no draw. Best guess is cuz everything's been shut down. The whole recession meets let's not invite new immigrants theory cannot be true. At best, they might adjust targets is all.
Someone here also stated that EE immigrants have come to Canada to work on minimum wage. Nope. Not true. There are people here who are struggling. But, there are so many doing well.
Someone here also stated that EE immigrants have come to Canada to work on minimum wage. Nope. Not true. There are people here who are struggling. But, there are so many doing well.
That doesnt sound good. Am from toronto. Everyone is getting layoffs. Dont know how bad its gonna affect Economy and recession is on its way. Such a bad times. Everything is uncertain at the moment. Hope everything passes away soon.
No one comes to work for minimum wage, they HAVE to as all companies ask for Canadian experience, I've met Indian doctors, engineers and CAs doing that. Of course, things get better with time /experience /network
Exactly, the economy was down anyway with companies shutting down and no jobs even for university graduates , now after COVID19 and recession God only knows how ppl r gonna survive with rental costs 2k+
Not sure what that means. PNP approved from Ontario and had 600 points added a week back.