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Opinion: It’s not that we have too many people. It’s that we have too few houses
(www.theglobeandmail.com)
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The chart here: https://www.macrotrends.net/countries/CAN/canada/population-growth-rate shows a steady growth rate over the past 70 years. Like you said, that's not a sustainable model for anything, including housing.
People really need to quit with the 'single family home with a white picket fence' bullshit and get more comfortable with medium/high density housing.