For the first time in modern history, Canada is experiencing a sustained population decline, with three consecutive quarters of contraction reported as of April 2026. According to Statistics Canada, the nation’s population dipped by 55,025 in Q1 alone, driven largely by the departure of non-permanent residents and a notable slowdown in new arrivals.
David-Alexandre Brassard, chief economist at CPA Canada, characterizes this shift as a ‘slow burn’ that is fundamentally altering housing demand. We are already seeing the ripple effects in the rental market, where condo rents have hit 33-month lows. While this adjustment may be uncomfortable, experts suggest it could finally bring much-needed relief to housing affordability. With inflation pressures easing, the Bank of Canada may now have the flexibility to lower interest rates to stabilize the economy. For a deeper dive into these demographic shifts and their potential impact on your portfolio, read the full report at MPA Mag.
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