The opportunity cost of starting a business in Canada is too high. People who have the capital to start their own business are more likely to see better returns by investing in real estate which has much lower risk and requires less effort. The federal and provincial governments would need to stop artificially propping up the real estate sector to make entrepreneurship competitive which is unlikely to happen willingly.
Many of the programs to help with housing affordability is making it easier for first-time homebuyers to get enough money for a downpayment. There is tax break for first-time buyers, the ability to borrow money from your own RRSP and most recently the FHSA (First Home Savings Account). Long term this increases home prices by injecting more money into the system.
