There is going to be an entire generation left out of the housing market

"Being Canadian, our entire financial well-being in our country, and this is what we are told by our educational institutions, from the Government of Canada and from financial advisers, is that to get ahead in Canadian society, we have to purchase property. That social contract we have had with the government and civil society is eroding before us at a very alarming rate.
When young people graduating from university no longer see a pathway to home ownership, when that seems out of the reach of possibilities, they lose hope. What happens when we lose hope? People turn to extremism, on the left or the right. We are in a dangerous position in Canada where there is going to be an entire generation left out of the housing market. That is partially to do with the government's policies of today.
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Under the interest rates today, under a government policy and under the stress test, let alone the incomes that do not match the ability to pay for a home and inability of young people to save, we will be in a very dangerous position in our country in the decades to come if people believe that the social contract they signed up for when they came to Canada, or were born here, is going to be taken away from them."