Is there a solution?

It seems so clear to me. We cannot maintain high interest rates that create inflation on products, open the door to mass immigration and create a housing shortage at the same time. The equation cannot be sustained over time.
Building real estate projects is no longer profitable for developers, especially since taxes on products and services increase the price of consumer goods and create a scarcity or a slowdown in production due to a lack of orders.

What would be the solution? According to this interview I have heard nothing but optimism that the illusion will continue over time.

For the moment the luxury market does not seem to be affected by this fact.

You be the judge.

https://www.bnnbloomberg.ca/gta-rent-prices-slightly-higher-in-may-as-market-recovers-1.1622804?jwsource=cl