I know HN is not the place for glibness, but literally: just build more homes. Everything else is rearranging deck chairs on the Titanic. Zoning reform is the answer.
The feds don't really get a say in home building, it's up to the provinces like Ontario who aren't really feeling the pressure to do anything, after rejecting the most impactful recommendations from a recent task force on affordability [1].
The NIMBY mayors of cities such as Mississauga pushed back [2] and the province has effectively backed down.
Problem is urban sprawl has reached its limit so more homes means more apartments. And millennials accustomed to freestanding houses in suburbs will continue to rent houses and ignore the new apartments while claiming there is still a housing crisis.
I think millennials would happily adjust to condo living if they were affordable and large enough to comfortably live in with room to spare like in a house (1400+ Square feet, 3+ bedrooms)
The NIMBY mayors of cities such as Mississauga pushed back [2] and the province has effectively backed down.
[1] - https://www.cbc.ca/news/canada/toronto/ontario-doug-ford-hou...
[2] - https://twitter.com/BonnieCrombie/status/1507080290602299392