“This has become probably the most important both economic and political problem facing the country right now,” said Tyler Meredith, a former head of economic strategy and planning for Finance Minister Chrystia Freeland.
“And especially given the significant emphasis the government has put on immigration and the relationship between immigration and the housing market, there is a need to do more.”
People still need homes to live in, and they still have mortgages to pay. If housing prices decrease modestly, nobody is going to riot. The only people who might get hurt is those who are already over-leveraged.