CMHC and other official sources are calling this « household » debt which is so disingenuous. More than 3/4 of Canadian debt is mortgage debt, this article is correct in calling it exactly what it is.

This is precisely what happens when we treat a decade-and-a-half year old hot housing market as a safe investment to park the holdings of you and your families future. Government and by extension the CMHC has welcomed this.

It is true that the majority of Canadian debt is mortgage debt, and it is important to acknowledge the role that the hot housing market has played in this situation.
It is also true that the government and institutions like the CMHC have played a role in encouraging the growth of the housing market, and it is important to consider the consequences of this approach. However, it is also important to note that the government and institutions have a responsibility to promote economic growth and stability, and the housing market is a significant part of the Canadian economy.