The lack of liquidity is a domestic problem.

Boomers are sitting on trillions (across Canada) in tax free capital gains on real estate, in many cases (esp. Vancouver) more money than they made working for their whole lives.  Hence, they are holding onto these properties and refuse to leave them unless it's feet first.  This kills liquidity and makes it a sellers market.  Toss in foreign buyers looking to park money and the overall pricing soars.

We have to cap the primary residence cap gains exemption to $250K.  This exemption was to help young families (boomers at the time) upsize their homes as their families grew, not to create tax free millionaires in nursing homes.

By tossing in this cap, boomers would start cashing out to avoid the taxes, make way for the next two generations that follow them and maybe it would become somewhat affordable to have a kid in Canada again.