I agree that the TFW is being heavily abused and that's something that hasn't been closed off since Trudeau and will continue under Carney.

However, I don't think broke students were fueling the 3200/month condo studio crisis. More likely that they were shacking up 5 to a room in the burbs in someone's non compliant basement unit.

Rent prices and development dropped because everyone is broke and holding onto their money during precarious times (it's also more profitable to invest in stocks than real estate) - correlation of a drop in immigrants is not causation of drop in prices.