The first step is to stop pretty much all immigration into Canada for the time being. This puts a halt to the unsupportable increases in demand for housing and other resources.
The second step is to have all of the "temporary foreign workers", the foreign "students", and the "refugees" promptly return home. This frees up some of the existing supply of such resources.
Some people will claim that doing such things would be economically-disruptive. It will be, and that's necessary at this point.
That leads to the third step: remove the various government-imposed restrictions and controls on rentals, wages, and so forth. After the severe economic distortions that have been introduced by awful government policies over the past several decades, the economy will need to readjust to a natural balance again.
There may be some short-term pain, but it would put Canada into a far healthier position economically and socially over the long run.