@footy16: Real estate is the most interfered-with market in Canada. There is taxpayer supported mortgage insurance. There are incentive programs galore (reno tax credits, down payment assists [cash from government!], penalty-free RRSP raiding for down payments) and tax incentives from capital gains exemptions on primary residences to low rate, non-compounding penalties on property tax deferrals. And of course, while I'm a fan of immigration in general, there are loophole riddled immigration/student visa schemes that are designed to sell citizenship and encourage participation in the real estate sector by foreign wealth.

You might LIKE all of these things and even suggest they're somehow going to be constructive long-term (an increasing number of young people disagree), but you are way off base to say there is no distortion.