A latticework of government demand-side policies are seemingly tailor-made to hold the line on unaffordably high real estate prices.

I’m surprised we’ve seen basically nothing from provincial or federal governments to improve housing/rental affordability. With riding interest rates, I was expecting at least a slump, but that hasn’t happened. Instead, we’ve seen amortizations grow rapidly.

The Office of the Superintendent of Financial Institutions has recommended

Removing the ability to extend amortization periods could exert downward pressure on some house prices, as it reduces the options available to help some borrowers meet their financial obligation

But (AFAIU) Parliament has ignored the recommendation. It’s a really shitty situation, that I don’t see a way out of.