I have a recent theory that the housing affordability crisis may actually sort itself out, and it may benefit the country. Reasoning:
Much of Canada's population growth is due to immigration. Most immigrants go to the big cities. This has meant small towns are in the process of dying, the whities living there haven't replaced themselves with enough children, and when the boomers are dead the populations of these smaller towns will shrink. If housing is unaffordable in the big and medium sized cities, immigrants and others will start moving to smaller towns and cities where housing is more affordable, especially with remote work becoming the new thing.
Doesn't mean there aren't some things the gov can fix, like foreign ownership and overall speculation, but maybe the market will largely sort things out.