I'm not sure that I would colour-code it myself at this point. An entity that does is the Bank of Canada, so I point you to their “Financial System Review”.
Yes, Canadian household debt and house price matters have been an important vulnerability to financial instability in Canada for a decade or more. There have been a number of measures taken by successive governments to try to manage this issue.
I spoke to the mortgage insurance regulations. There have been a number of gradual steps to tighten in that area over the last decade. There have been steps taken, and I can go into more detail if you'd like, but I won't at this time.