Immigration cuts will help housing gap, PBO says, but less than government projects

The Parliamentary Budget Office (PBO) predicts that the housing gap in Canada will decrease by 45% due to cuts in immigration, based on the government’s population projections. However, the PBO expresses doubts about the accuracy of these projections and warns of significant risks. The PBO’s model suggests that the reduction in household formation and housing gap estimates may be uncertain and are likely to be upper-bound estimates.

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