According to Benjamin Tal, deputy chief economist at CIBC Capital Markets, the number of non-permanent residents in Canada is much higher than the government’s official estimate. This discrepancy underestimates the number of new homes needed to meet the country’s growing housing needs. While the government estimates the number of non-permanent residents to be around one million in 2021, Tal’s report suggests that the actual number is closer to two million. The government’s estimate does not include those who remain in the country after their visas expire, which is the main reason for the difference. Tal’s report highlights the need for more urgent and aggressive policy action to address Canada’s housing affordability crisis. #temporary_residents, #housing_shortage, #PR, #permanent_residents