text: Go ahead and implement Demento's suggestions, then also let rates go up, terminate portfolio insurance, and cap individual mortgage insurance at $400,000.  That would make the CMHC return to its original mandate of helping first-time buyers of cheaper properties.  (Once the crash drops average prices, you could lower it further, and eventually scrap the whole dumb program.)  Allow only citizens to buy property here.  Bring in the present number of immigrants, or maybe a few more, but do so based on skills, not family or buying your way in.  Get immigrants from all over.  Help students come here from lower-income countries by giving them lower tuition - right now we don't get enough because they can't afford the triple tuition we charge.  Finally, note that a crash would be A GOOD THING!!!   We can survive a little short-term default pain for a huge long-term gain.