What if all the temporary residents leave?

The government today confirmed that it intends to welcome an increasing number of permanent residents in the next couple of years. Even if the number of permanent residents continues to rise, however, the record number of temporary residents currently in Canada poses the risk that the population could decline in the future. That seems unlikely unless the economy enters a deep recession but, in that scenario, a fall in the population could weigh heavily on house prices and exacerbate the economic downturn.