One thing driving this bubble is that we just don't build enough houses compared to the number of immigrants we accept. The liberal government is just starting to accept that fact. Kinda ironic that for years the the rest of Canada told Quebecers they were racists because we were pushing back against immigration and now it's a mainstream view.
The problem can be solved in two different directions - accepting fewer immigrants or building more housing (perhaps both for some stretch of time to ensure that citizens can afford housing and build families).
Long-term though I don't see a way for the Anglosphere to thrive unless immigration increases, given low birth rates.
Immigration is a good thing. California would not be the fifth largest economy by gdp without 40 million people moving there over its short history. Its only a bad thing when your elected officials choose to scapegoat them to mask their own incompetence with policy making. Immigrants are also moving where there are jobs to be had, but you never see a politician who is against immigration be against attracting more business in their district no sir e.
