eliminating the mortgage deduction and the 500k exemption from gains on the sales o residences every 2 years will make a more even playing field in taxation for renters and home owners. It will change the pricing of owning houses vs renting housing but will not overall change housing numbers as people need a place to live. The 15 year phase in gives everyone time to adjust to the changes with minimal disruption. It will make people more mobile too.
I think Canada may have issues building Christmas inventory. They raised cash by selling RE but total cash on a straight line basis is enough for 10 months operation left IF, IF ,If suppliers play ball.