First of all, let's go back to what I mentioned about the Bank for International Settlements. They've been warning about asset price inflation basically ever since the great financial crisis of 2008. That includes Canada. Housing prices in this country exploded when the Bank of Canada first lowered interest rates in 2015. We didn't have quantitative easing like a lot of other countries did at that time, so it's more complex than just saying we had QE and that all went into the housing market. Clearly there is an association there, but it's a lot more complex than that.
On January 24th, 2022. See this statement in context.