The Bank of Canada says what we already knew: Trudeau's immigration plans are jacking up housing prices. I'll take you through it and show you an amazing graph from the government itself, to make sure you believe it.
00:00:00.000Hello, my friends. Today, I take you through a Bank of Canada report. Now, before you click away,
00:00:05.540it's not as boring as it sounds. They study Trudeau's massive immigration spike and tell us
00:00:12.140how much that's doing to raise the price of housing. This is from the government itself.
00:00:17.360I'll take you through it and show you an amazing graph. But first, let me invite you to become a
00:00:22.480subscriber to Rebel News Plus. That's the video version of this podcast. I want you to get the
00:00:26.500video version. I want you to see this shocking graph in this Bank of Canada report about immigration
00:00:33.200levels under Trudeau. You need to see it to believe it. Just go to rebelnewsplus.com, click subscribe,
00:00:40.020eight bucks a month, and you get the video version. All right, here's today's show.
00:00:44.080Tonight, the Bank of Canada says what we already knew. Trudeau's immigration plans are jacking up
00:01:01.660housing prices. It's December 18th, and this is the Ezra LeVance Show.
00:01:05.360He's ready for freedom. Shame on you, you censorious bug.
00:01:20.680Immigration in Canada is out of control. I've got a graph I'm going to show you that is the most
00:01:25.480shocking thing I've ever seen on the subject, and the graph is not from some anti-immigration
00:01:30.080think tank. I don't think there is an anti-immigration think tank in Canada. It's a graph from the
00:01:35.220Bank of Canada in a study written by 12 authors trying to assess the impact of Justin Trudeau's
00:01:42.560mass immigration platform on things like housing prices. It's sort of obvious, supply and demand,
00:01:49.460if you bring in more than a million newcomers a year, and everyone's got to live somewhere,
00:01:56.580it's obviously going to push up housing prices. It's also a reason we see shocking images like
00:02:02.480this footage. This is not taken in LA's Skid Row. This is not some refugee camp in Europe. This
00:02:09.740apparently is Corona, British Columbia. I've never seen such a thing before in Canada. That is U.S.
00:02:16.720style homelessness, and I don't say U.S. style as some insult. It's just a massive fact of life. It's
00:02:22.480the homelessness on the streets, especially in Democrat cities in the U.S. It's come to Canada now.
00:02:28.500In many other cities, you have three, four, five families jammed into one home. That's the only way
00:02:34.460to make it affordable, but Trudeau doesn't let up. It is true that bringing in a million people a year
00:02:40.040or more into Canada does increase the GDP. I mean, all those people do have to live somewhere, eat
00:02:45.920somewhere, drive something, but it's lowering our per capita GDP. In fact, I think one of the reasons
00:02:52.200why Trudeau jacks up immigration so much, besides the obvious political reasons, is to mask the fact
00:02:58.020that on a per capita basis, we're actually getting poorer. What I'm saying is the per capita GDP
00:03:03.260in Canada is going down, but because Trudeau is bringing in a million newcomers a year, that
00:03:08.260masks that effect. We are in a recession in Canada. Immigration helps Trudeau hide that.
00:03:16.160There's obviously other consequences to mass immigration. Did you see this shocking footage
00:03:21.660from a mall? I think this mall was in the Eaton Center in Toronto over the weekend. Here is a
00:03:28.500foreign man, I'm judging by the accent, masked in Hamas attire, threatening to put a cop six feet
00:03:34.740under. Did you see this video footage? Take a look. See, there's the quantity of immigration and there's
00:03:58.500the quality. And by that, I mean, do we allow people in without any sort of values test? If you've seen
00:04:04.380the streets across Canada this past two months, they are swelling with people who are chanting
00:04:09.840for death to Israel, death to the Jews, depending on how careful they are about what they mean. You've
00:04:14.060seen protests outside Jewish owned stores like Jewish restaurants in Toronto. What's that got to do
00:04:20.120with the battle over in Israel or the Jewish bookstore? The craziest are these protests outside a store
00:04:26.840called Zara, Z-A-R-A. Have you ever heard of that store? I bet you have, especially the women in the
00:04:33.240audience. It's a women's fashion store. It is actually one of the largest clothing retailers in
00:04:41.340the world. It's got nothing to do with Jews or Israel. It is a Spanish company headquartered in Spain
00:04:49.600in Spain. The founders are good Spanish Catholics. I think maybe because Zara sounds like it could be
00:04:55.900an Israeli name. These morons are protesting out front of it. Take a look.
00:05:00.640Zara, Zara, shame on you. Zara, Zara, you can't hide. Zara, Zara, you can't hide. You've been close for genocide. You've been close for genocide. You are fucking genocide. You were close for genocide. You were close for genocide.
00:05:37.460Zara, the Jew is müssen. All of a sudden, you've been close for genocide. You were close for genocide. He's charged with 머こんにちは andatiques, which can not stand out yet.
00:05:55.880Well, when I was in London recently, they were protesting outside McDonald's.
00:06:01.280I really don't know what McDonald's has to do with Jews.
00:06:04.240But again, it's really just about chaos and disruption and showing who's the boss of the streets.
00:06:10.880This is when I was in London a few weeks ago.
00:06:25.880I was in London a few weeks ago, and I was in London a few weeks ago.
00:08:19.880My point is, yes, there are some native Brits and native Canadians who were involved in those protests, but in the main, they are foreign nationals.
00:08:39.880And as we learned in a global news investigative report, many of them are being orchestrated by the 700 Iranian government agents that work in Canada.
00:08:49.880These are not natural occurring protests by Canadians.
00:08:53.880You can tell they're not by Canadians.
00:08:55.880These are foreign funded, foreign directed protests in support of a foreign terrorist group.
00:09:01.880And so far they've found they can say and do literally anything in Canada, including telling police they'll be six feet under, and the police, well, they don't do a thing.
00:09:11.880I tell you, if Adam Skelly from Adamson's BBQ simply had a keffiyeh on instead of a ball cap, the police would have never sent 100 cops and riot horses to shut down his restaurant.
00:09:53.880Yeah, what do you think would have happened to the trucker convoy if they would have told the cop they'd be six feet under?
00:10:07.880They would have been arrested and probably shot.
00:10:10.880But this pro-Hamas terrorist supporter, ah, the cops are his escort.
00:10:14.880Anyhow, those are some of the qualitative aspects of unbridled, unlimited, unqualified immigration.
00:10:19.880But what about the quantifiable aspect? By that I mean when you add a million plus people to the country every year, what does that do to the ability of anyone, including those newcomers, to find a house?
00:10:30.880Well, I have in my hand here a study done by the Bank of Canada and released just about a week ago.
00:10:35.880The study is called Assessing the Effects of Higher Immigration on the Canadian Economy and Inflation.
00:10:54.880I'm not going to go through all of it, don't worry.
00:10:56.880Some of it's sort of dry and some of it is on other subjects.
00:10:59.880But let me read to you from the introduction.
00:11:02.880The rise in immigration is nonetheless contributing to pressures in inflation components linked to house prices, given that it is adding more to housing demand than to housing supply in the context of structural imbalances in the Canadian housing market.
00:11:20.880Let me translate for you. Bringing a million people a year into Canada makes it more competition for houses and, of course, supply and demand.
00:11:27.880If you can't add a million people worth of houses a year, those who are on the ground are going to bid up houses.
00:11:34.880And now Canada is one of the most high real estate bubbles in the world.
00:11:39.880It reminds me of Pierre Polyev's 15-minute infomercial the other day.
00:14:32.880Newcomers have driven most of the increase with the largest rise among non-permanent residents, NPRs, who now represent about 60% of immigration into Canada.
00:14:41.880This group reflects a mix of students, low and high skilled temporary workers, and asylum seekers.
00:14:48.880And increases have been large across all NPR categories.
00:14:53.880And then they break it down on page three.
00:14:55.880And I'm going to go through this because it's just so astonishing, these numbers.
00:14:59.880And I ask you, is there a single MP in all parliament or senator who's even talking about this?
00:20:41.880I'm going to read from page 10 here on housing.
00:20:44.880A rise in immigration to Canada may contribute more to housing imbalances than found in studies of other countries.
00:20:50.880This is because Canada already has imbalances between its housing supply and demand
00:20:55.880and because relatively few newcomers joined the construction industry.
00:20:58.880In other words, we already were short of housing.
00:21:01.880And then in the face of that, Trudeau decided to bring 1.4 million newcomers in.
00:21:05.880So it's worse than any other country that these scientists can find.
00:21:09.880And, of course, we know that's true because of the comparison on both sides of Niagara Falls.
00:21:14.880Let me read a little bit more from page 11.
00:21:17.880The imbalance between housing demand and supply has risen steeply.
00:21:22.880Well, that's why the prices have shot up. That's why no one can afford it.
00:21:26.880In the five years preceding the pandemic outbreak, net new household formation,
00:21:31.880also known as demographic demand, modestly outpaced the construction of new homes.
00:21:36.880That means a husband and wife getting married and move out on their own.
00:21:40.880That's what they mean by demographic demand.
00:21:41.880You make a household. You need a place to live now because you're not living with your parents or your roommates.
00:21:46.880However, over the past year, the gap between demand and supply surged.
00:21:52.880Altogether, Canada would need just over 200,000 additional homes to close the gap between housing demand and supply that has grown since 2015.
00:22:03.880This is equivalent to around 10 months of housing starts compared with two and a half months in 2019.
00:22:09.880But that's just to take care of the newcomers.
00:22:14.880But Trudeau's planning to do this again next year.
00:22:16.880He's planning to do again the next year.
00:22:18.880And Pierre Polyev still hasn't spoken out about it, has he?
00:22:22.880And, of course, these people are not working in construction.
00:23:41.880The decline in house prices in the current monetary policy tightening cycle has been less than what have been expected based on previous episodes.
00:23:50.880And shelter inflation is expected to contribute meaningfully to inflation over 2024 and 2025.
00:24:38.880Let me close by citing page 14 underneath the heading implications for inflation.
00:24:44.880If you're wondering where inflation comes from, it's coming from a lot of places.
00:24:47.880It's coming from the fact that Trudeau has just printed hundreds of billions of dollars, which has devalued your money.
00:24:54.880So it's almost like adding counterfeit money to the pool.
00:24:57.880So your real money has less purchasing power because there's all these fake Trudeau bucks circulating.
00:25:02.880So you need more money to buy the things you used to have.
00:25:05.880He's also raising carbon taxes on everything.
00:25:07.880So everything is more expensive, especially food.
00:25:10.880But housing is a significant part of inflation because it's one of the most expensive things we buy, whether it's a mortgage or a rent payment.
00:25:18.880Let me close by citing page 14 of this study.
00:25:22.880A more significant inflationary risk appears when it comes to housing, given chronic labor shortages in the construction sector, low levels of employment by newcomers in construction and increased housing demand by newcomers relative to supply.
00:25:38.880If this imbalance continues to add to the existing structural challenges facing housing construction in Canada, then housing related components of the consumer price index could see additional upside pressure.
00:25:51.880In other words, the price of houses are going to still go up.
00:25:56.880They say there's a lack of people in construction.
00:25:59.880But there simply couldn't be enough people to build houses for a million plus people a year.
00:26:06.880And yet Trudeau insists on doing that.
00:26:08.880I watched Pierre Polyev's 15 minute infomercial, and he had a few good points and he talked about printing money and he talked about inflation and things and he was exactly right.
00:26:20.880But if you are not willing to talk about immigration and the vast numbers of people who are coming into this country, you will never solve the housing pricing issue.
00:26:29.880You will cause damage to our health and education systems, to traffic, to crime, to homelessness.
00:26:35.880And as we've seen in the streets of this country, to cultural fit.
00:26:39.880Until someone in this country has the courage to talk about immigration reform, these problems simply won't go away.
00:26:46.880If you look at the solution that Pierre Polyev proposed in his 15 minute video, one of his solutions was to build basically high density apartment complexes.
00:26:58.880That's where you move when you're young and single, maybe where you go if you're one of these non-permanent residents coming to Canada, 600,000 coming to be students.
00:27:07.880But the Canadian dream, like the American dream, is to have a house with a backyard and to have a little bit of space, a space to call your own.
00:27:15.880That will never happen if we keep bringing in a million plus people when just a few years ago a quarter million was considered an extraordinary number.
00:27:25.880Until the Conservative Party of Canada has the courage to tackle this, the problem will not go away.
00:27:44.880Well, some of the largest protests since the October 7th terrorist attack in Israel have been, not surprisingly, in the largest cities in Toronto and Montreal.
00:27:54.880In fact, there have been some cases of violence in those cities.
00:27:57.880We saw, for example, Molotov cocktails and gunfire in Montreal.
00:28:01.880Calgary is a smaller city, but they have had fairly intense protests every weekend.
00:28:07.880I would call them dueling protests on one side of McLeod Trail in that city are the pro-Palestinian protesters.
00:28:15.880On the other side, the pro-Israel protesters and the police in the middle trying to separate them most of the time.
00:31:27.880I mean, Justin Trudeau just went further down that road, the pro-Hamas road, than he ever has before.
00:31:32.880First of all, I understand how so many people across this country are grieving, are angry, are worried about this unfolding humanitarian catastrophe.
00:31:48.880That is why, as a government, we're continuing to call for immediate humanitarian pauses,
00:31:54.880to be able to flow in aid, to get people out to safety, to start doing everything we can to protect civilian life.
00:32:03.880These are things that we're continuing for and that's why we're also working with our international partners towards an urgent ceasefire.
00:32:10.880We know that is important, but that ceasefire can't be one-sided.
00:32:16.880Do these protesters think they can get more from him? Are they just going to protest no matter what?
00:32:21.880I mean, I would be thinking seriously, they would be thanking him. What do you make of that?
00:32:27.880You know, the reality is this, that I don't think, or large part, I don't think that the protesters know exactly what it is that they are truly espousing,
00:32:41.880which is when they say, from the river to the sea, Palestine will be free, what they're essentially saying here is that they reject entirely any attempts at Jewish self-determination.
00:32:52.880And, you know, as a Muslim, a Canadian myself, I recognize the importance to encourage all groups, whether it's on the basis of civic unity or on the basis of ethnicity, religion, to form their own state as they so wish to.
00:33:09.880But the unfortunate reality is that they want to engage in free speech and chant and support whatever cause they want to,
00:33:19.880yet they are not hell-bent on or they do not actually want to go through the rigors of seeking a compromise, which is important in democracy.
00:33:29.880What they want is they want to get their way, and they will, in some cases we've seen in the past couple months, where they will actually utter threats of violence.
00:33:39.880And in some cases what we've seen in the schools in Toronto and in the greater Toronto area is where there are viable threats that are issued towards Jewish Canadians as well.
00:33:51.880And so it's rather unfortunate that rather than trying to seek justice for any innocent non-combatants that are killed in the crossfire, what they want is to completely ignore the fact of what led us to these events.
00:34:08.880Israel didn't just start dropping bombs just because of their so-called hatred for Palestinians.
00:34:17.880What they want is to seek justice against the Hamas terrorists, not militants, harassed, Hamas terrorists for slaughtering, raping, and killing over 1,200 Israeli citizens, Jews, and other foreign nationals.
00:34:33.880And I haven't heard from many within the community their direct opposition to the events that led up to the military campaign in Gaza.
00:34:44.880It's as if they want to completely disregard the facts on the ground, and they just want to push a narrative that suits their cause, which in my opinion is just to pursue a very radicalized form of Islam that we are seeing in real time.
00:35:02.880in real time across Europe and in parts of Canada and the US really wrecking havoc with the cult of the unity amongst different groups here in the West.
00:35:09.880the cult of the unity amongst different groups here in the West.
00:35:12.880the cult of the unity amongst different groups here in the West.
00:35:16.880So thank you Hamas, thank you Iran, that's pretty brazen.
00:36:06.880Are the crowds dwindling as it gets colder?
00:36:09.880What's the reaction from the city at large?
00:36:11.880You know, I think in particular, ever since Calgary's mayor, Jody Gonda, made the cowardly decision not to attend a Jewish celebration of Hanukkah recently.
00:36:26.880What we've seen is that some of the local politicians are trying to, you know, court votes on, trying to maintain support on both sides without trying to lose any support from what we can unequivocally refer to as the anti-Israel, pro-Hamas supporters.
00:36:51.880And so since then, what we've seen in Calgary is several dueling protests.
00:36:58.880But I think as the weather gets colder, you're going to start to see lesser turnout, which is, of course, typical.
00:37:06.880But what I saw on the ground was that, and this is perhaps most concerning, is that most people yesterday did not seem unbothered by some of the rhetoric that was being spewed.
00:37:20.880Other, maybe perhaps because they were just going about their day and busy.
00:37:25.880But the fact that there's not a larger, I guess, reaction to, there's a negative reaction to the rhetoric that's being pushed is concerning.
00:37:35.880Because you would expect to see this in a more destabilized, quasi-democratic state or a theocracy rather than a liberal democracy such as Canada.
00:37:48.880The concern is there, and I think as we start to see more clips and more reaction from the anti-Israeli protesters, where they become more unhinged and where they issue death threats, which they did not in on Sunday.
00:38:03.880But when we start to see them become more emboldened in their aggression, I think we'll start to see more Canadians speak out against this, which I hope is the case moving forward, because it does not seem that the protesters are going to quiet down in any way.
00:38:21.880Alex, great to catch up with you. Thanks very much for going out there and thanks for your comments.
00:38:25.880You're part of our Rebel team. We have people from every background at Rebel News, and I appreciate your comments.
00:38:31.880And I know you're a proud Muslim Canadian, and I thank you for your journalism with Rebel News.
00:38:38.880Okay. There you have it. Alex Dhaliwal from Calgary. Stay with us. Your letters to me next.
00:38:44.880Well, that's our Alex Dhaliwal, who's one of our team of 45 rebels across the country.
00:38:58.880And as he mentioned, he's a Muslim Canadian who does not believe in the extremism he sees at these pro-Hamas rallies.
00:39:05.880Nice to have him on the team. And it's tough because, of course, I would imagine it's tough because there is peer pressure from these bullies on the streets.
00:39:15.880They go after Adam Sose. They go after Drea Humphrey. They go after David Menzies.
00:39:20.880And, indeed, they go after Alex Dhaliwal as well because we tell the other side of the story.
00:39:25.880Well, that's our show for today. Until tomorrow, on behalf of all of us here at Rebel World Headquarters, to you at home, good night.