That's the only honest sentence in the entire article, but what do you expect from a real estate 'reporter'? The rest of the article spins so fast in hope common sense will be sent into orbit; the comments to the article show that only the most indentured to their mortgages are buying it anymore.
High prices and a drop in sales means a price apex, which in Canadian and American markets has meant that four to five years out will be the nadir. Anyone who's bought in the past five years is a spectacular idiot and deserves to live under a bridge when interest rates go back to historical averages and they cannot make their payments: it's made no financial sense to buy over rent for over a decade, there's been a history of two of these cycles spaced fifteen years apart in just my lifetime, and we had the recent American example FFS. When someone tells you 'it's different here' get your money out of any market they are in.
I just hope we do not bail out banks or buyers with public money. Greed I can comprehend, but fuck'em for stupidity.