The Market Huddle Trudeau Gets The Party, Pierre Gets The Hangover (Guest: Ben Rabidoux)
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Jan 16, 2025 Ben Rabidoux, founder of North Cove Advisors, dives into the intricacies of the Canadian housing market and economic landscape. He sheds light on immigration's influence on population growth and the challenges posed by government policies. The conversation shifts to the rising consumer debt and mortgage delinquencies affecting real estate. Rabidoux also discusses political changes, predicting a possible economic upswing under new leadership and critiques Canada's mortgage insurance system, questioning its long-term sustainability.
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Immigration's Impact on Canadian Economy
- Canada's economic growth relied heavily on immigration, masking a per-person decline.
- The government shifted its approach, impacting markets and demographics.
Shifting Demographics and Immigration Fraud
- Canada's population growth, fueled by temporary residents, is projected to decline.
- Immigration fraud, particularly with labor market impact assessments, has been rampant.
Abrupt Policy Shift
- Canada's immigration policy has abruptly shifted from rapid expansion to sudden restriction.
- This shift raises concerns about the future status of immigrants who arrived under previous expectations.