"The country’s housing market is slowing after policy makers tightened mortgage rules to cool prices which had surged as much as 136 percent in Vancouver and 74 percent in Toronto in the decade to December. Finance Minister Jim Flaherty cut the maximum amortization period on mortgages the government insures to 25 years from 30 years in June, the fourth restraint in four years, while the Office of the Superintendent of Financial Institutions, Canada’s banking regulator, introduced tougher standards for mortgage lenders.
Nixon, who heads the country’s biggest bank, said he sees a modest decline in Canadian real estate, with a pullback in markets such as Vancouver, the country’s third-largest city. Consumer loans, including mortgages, are due for single-digit growth in 2013, he said."
That's how a prudent financial plan works.
Now, if you can't pony up 25% of the purchase prices of the home, you can't afford it.