Well that's part of the problem, isn't it. What is a house: a place to live, or an investment expected to produce returns? For many Canadians it's increasingly the latter more than the former.

This is unfortunate because now no politician will seriously consider any deliberate action that might erode homeowners' net worth. Even if greater affordability is a good thing for inter-generational fairness, new entrants, low-wage workers, etc.