The Case Against 30-Year Mortgages

Here's the grain of salt: Canada and Australia do not have 30 year mortgages yet face similar housing woes.

That said, it seems like the article buried the lede and is really complaining about interest costs.

House prices in Canada are dropping this year. Not much, and from an insanely high base, but the need to refinance at a higher interest rate has forced some people to sell.

The condo market is hurting the most. Which is exactly what people have been asking for - lower prices - achieved by vacancy tax, foreign buyer ban, speculator tax, and no rights for landlords.