@rickschlosser: Also, if we're talking "entitlement", I would argue anyone who thinks the present real estate market is reasonable/ should be maintained is entitled. Because these prices are arise from the largest interference in any market in Canadian history. These high debt levels are a key driver for the high prices we see. There's nearly a TRILLION dollars in taxpayer insured mortgage loans in Canada now. Why make changes to let people borrow so much? Beyond low rates, we've had no/low-penalty property tax deferrals, home reno tax credits, down payment pillaging from RRSPs, cash loans from government for down payments, capital gain tax deferrals on sales, etc. Or consider flawed immigration/student visa programs designed to court citizens of convenience who shelter cash in real estate. What other investment type gets such special treatment? And people pretend they're house-rich because of a "free market". It's nauseating and it disproportionately harms the future (ie. the young).