> The fact is that inflation has eroded away the value of $$ and houses that should cost $50,000 now cost $700k.

There's a particular problem with that hypothesis:

> Over the past 5 years, single-family home prices are up 150% in London-St. Thomas [Ontario], but down in Regina. They've barely budged in Edmonton. Monetary policy provides no explanation for that phenomenon.

* https://twitter.com/MikePMoffatt/status/1430892821968392198

Meanwhile, when you increase the population, but do not have a corresponding increase in supply:

* https://mikepmoffatt.medium.com/ontarians-on-the-move-2021-e...

There's no need to get into hard money, gold bug tropes about asset prices when supply and demand effects can explain regional price rises.