The problem I see it is that this country and its citizens are now addicted to debt. I mean, people take on million dollar mortgages just so they can say they live in a million dollar house! It's madness, and insanity.
People think interest rates are never going to rise. The US Fed hinted rates will rise 3-4 times next year because of likely inflation down there. If Canada doesn't follow suit, our currency will be completely worthless and it won't matter if your house is worth millions because it's priced in useless Canadian currency.
Liberals don't care. They will take on more debt to pay for shiny things to make us all feel good when in the end we will all be paying by having a devalued currency. And if we can't afford to pay our debts, who in their right mind will lend us even more money?