that is all marketing my friend.
Your so called y generation, as a matter of fact any of them, needs jobs and economic growth before it can afford the prices we have today.
with prices disconnected from rents and salaries nobody mentally healthy would venture to buy unless he or she has a hefty down payment and some savings. Otherwise paying more in rent while the house prices are going down (they will, you can deny it as much as you want) is better on the long term. That is the very problem these days, people are afraid to buy because they don't want to buy a depreciating asset.
By now most of us have looked at their salaries and at the house prices we have today and told themselves: "this is not doable anymore" hence the decreased sales without any economic problem.
If the money was there you should have seen still intense activity on the market..well as most of us know this is not happening. If the stats would not be manipulated that much and the average number trusted that much it would be clear that the market is turning for worse.
PS: I have said these before, the immigrants are not stupid, if they were that rich in their countries to afford the prices we have here believe me that they will not come here. The prices are a lot lower intheir countries and I doubt that they will qualify under the present rules for any mortgage. When you land here you first have to absorb the shock, the perception of the prices we have here might be different for many categories of goods, startig from food and ending with houses.
So ..whoever counts on immigrants to keep the RE market going is out of his mind and has no idea what makes someone to immigrate here.
Of course there is some money laundering from China to Canada but do not expect that to keep going on since Canada and China signed some agreements on this.
Al in all I sense some bias in what you wrote above. Strong bias. However expect my stats, they will prove where we are going with this.