Signal Housing absorption failing: 5.1 Canadian residents per new home against a 1.9 average

Summary

Housing is one of the clearest places where the capacity to absorb newcomers is falling short. In 2023 Canada added 5.1 residents for every new housing unit, against a historical average of 1.9. Australia built just one home for every 3.2 migrants in the same year, and Germany expects to need more than 2.5 million new dwellings by 2030. EY's point is that cities cannot take in people faster than homes and services can expand. When settlement outruns this capacity, rents climb and services become crowded, feeding a backlash that can trigger abrupt reversals in migration policy.