We are not building plenty of housing. We started the most houses we have since 1973 in 2021, but we aren't setting any records (Canada's population in 1973 was ~23 million vs ~40 million today). (for reference: https://www.statista.com/statistics/198040/total-number-of-c...) We probably need to double or triple our output for a decade to bring housing per capita back into line with a balanced market.

What we are doing is massively overpaying for land and massively overpaying for government ineptitude on each of those units, which is why housing is such a large part of the GDP when it is embarrassing on an actual production basis.