Respectfully, we're talking about bank loans that are guaranteed by taxpayers (something like $530B via CMHC and something like $300B+ via so-called private insurers like Genworth, which are still 90% backed by taxpayers). That's not people's own money. No one is entitled to borrow huge sums of money.

But I do wonder what people expect to see happen here. No one ever has to buy. Some always have to sell. When places are for sale, 1 of 2 things will happen: 1) the must-sells will have to cut prices until the place finds a buyer or 2) foreign buyers will snap them up. If it's #2, then the next thing up is real measures to tackle that (no loophole-riddled foreign buyers tax). Do you honestly think there will be no action as staffing issues persist and the future tax base of the region/province dissipates? This sucks in the near-term, but even some on-paper millionaires will turn when they see how hard their bottom line will be hit by higher taxes/fees/ prices.