You can see my bodily reaction when I hear this “dream of home ownership” thing come up, because that view.... Unfortunately, trees don't grow to the sky, and what's going to happen is the musical chairs game is going to come to an end and young people, who are very highly leveraged.... In fact, if they get an insured mortgage, they're borrowing at something like 83:1 or 85:1, and that's before they borrow their down payment from their parents or from their RRSP or something like that.
On May 19th, 2020. See this statement in context.