Deputy economist Benjamin Tal says that Ottawa should consider the impact on the rental market in particular before making any changes to its temporary workers program.
Tal says that non-permanent residents are at a record high with 770,000 now in Canada; 50 per cent are workers and 38 per cent students. In the last decade, 450,000 non-permanent residents have crossed the borders.
A decline in the number of migrant workers, which could be the result of any changes to federal regulations, could have a real impact on housing, particular condo markets in Toronto and Vancouver, Tal warned.
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New figures show that the number of non-permanent residents is growing and a CIBC report says that they are an important factor in the housing market.