From what I've heard from Canadians I've known, housing prices are already fucked in Canada to the point where you can't get anything remotely affordable anywhere that isn't in a remote frozen wasteland or otherwise in the middle of nowhere (good luck finding employment in such a place) and it's been that way for quite some time largely due to wealthy Chinese buying up so many houses.
If you're a Canadian and you really want to own a house, you're better off just moving to America, just avoid the northeast and pacific coast, the housing market is just as fucked in those parts. I'm surprised more Canadians aren't doing exactly that....then again it seems most Canadians look down on America.