Note: National Bank of Canada is a commercial bank, not the Bank of Canada which is Canada's national bank. Um. Which is Canada's central bank.
The graphs in the presentation are the key takeaway for me. But, some key words:
"Canada is caught in a population trap that has historically been the preserve of emerging economies. We currently lack the infrastructure and capital stock in this country to adequately absorb current population growth and improve our standard of living."
...
"To put things in perspective, Canada's population growth in 2023 was 3.2%, five times higher than the OECD average."
...
"But to meet current demand and reduce shelter cost inflation, Canada would need to double its housing construction capacity to approximately 700,000 starts per year, an unattainable goal."
Also, "piracy" or "copyright infringement" isn't theft in any sense.
A key element of theft is that you deprive the rightful owner of something. You now have it and they no longer do. What makes it wrong is that the person who should have it no longer does. It's not that you have it. That's why the punishment for "mischief" where someone completely destroys something belonging to someone else is similar to the punishment for the theft of that same object.
Copyright infringement is breaking the rule that the state imposed giving someone the exclusive right to control the copying of something. You're not depriving anyone of anything tangible when you infringe a copyright. They still have the original, they still have any copies they made, any copies they gave out or sold are still where they were. The only thing you're doing is violating the rule that gave them exclusive control. If you're depriving someone of anything, it's depriving them of the opportunity they might have had to make money from selling a copy.
If anything, copyright infringement is more similar to trespassing than to theft. Just like copyright infringement, trespassing involves not allowing someone to control who accesses their property. If you sneak onto someone's campground property and have a bonfire party, the person loses the opportunity to rent out the campground for the bonfire, and any money they might have received for doing that. But, if you sneak in and sneak out and leave no trace, you could argue that nobody is harmed.