The Bank of Canada is strangulating the economy without realizing it and Canadians will reaffirm the federal government tomorrow that has sleepwalked us into this mess.
What do we know about the immigrants? If they are mostly low socioeconomic status, young students etc, wouldn’t that alone be an explanation for the GDP per capita problem?
Haven't looked in detail. It's a fair question. There are however various other indicators. Unemployment, the devastating relative performance against US, crashing housing market (down 15% in last 3y).
Canada has silly premiums on a number of things. Insurance (I.e. if in BC only ICBC) and phone plans tend to be a bit ridiculous. Grocery prices have been impacting households significantly over the last couple years. I've enjoyed living in Canada but not sure how majority of households afford it in the expensive major cities (I.e. Toronto, Vancouver, etc.), especially with lower salaries vs their American counterparts.
What do we know about the immigrants? If they are mostly low socioeconomic status, young students etc, wouldn’t that alone be an explanation for the GDP per capita problem?
Haven't looked in detail. It's a fair question. There are however various other indicators. Unemployment, the devastating relative performance against US, crashing housing market (down 15% in last 3y).
Canada has silly premiums on a number of things. Insurance (I.e. if in BC only ICBC) and phone plans tend to be a bit ridiculous. Grocery prices have been impacting households significantly over the last couple years. I've enjoyed living in Canada but not sure how majority of households afford it in the expensive major cities (I.e. Toronto, Vancouver, etc.), especially with lower salaries vs their American counterparts.
Certain groups have created big protective barriers around their honeypots which makes life more expensive for everyone.