He's right, and anyone with half a brain can see that the federal/provincial/local gov't is bullshitting people by hyper inflating home values. Not only is it not sustaining, but it's absolutely bullshit. I'm surprised it hasn't burst yet after all these years of propaganda bullshit.
Look at the price of the home across from me is being listed for:
Home for sale in 4690 Hamptons Wy NW, Calgary | MLS® # C3649493
Just shy of 1 million dollars and it's not even a nicely appointed home as far as development is concerned. It's only 2600+SQ FT. It's got a regular developed basement (not even a walkout!!). The kitchen cabinets look cheap, the hardwood floors are run of the mill piece of crap. But that's how inflated the prices are here in Calgary.
If I took that million, I could buy a much much nicer property in the US and don't have to put up with the BS taxes here in Canada. I hold dual US/Canada citizenship and I can honestly say in Canada, we have to be the most taxed westernized nation in the world especially if you own a business. Thank goodness I am giving up my canadian citizenship by the end of the year. I'm sick of the bullshit that I have to put up with. It's like I feel dumber every day living in this rathole. I love how they say "we are much better off than the US". Keep drinking the nationalistic BS koolaid you ignorant stupid idiot.