I'm not Canadian or particularly familiar, but that's 30% down having done something like 300% since 2009 right? So if you've been renting for the last 13 years waiting this to pounce, you're hardly going to be patting yourself on the back thinking it was such a smart move.
Unless you mean having bought there 4m ago would suck? Well, sure, but this 'advice' is only for a home, where you live, not an investment property. And as for looking right now vs. waiting short-term for prices to drop (and paying rent meanwhile) - that's surely priced in. Suppose it could still make sense to someone personally if it put them in a better mortgage position (at the risk of a worse rate).
Unless you mean having bought there 4m ago would suck? Well, sure, but this 'advice' is only for a home, where you live, not an investment property. And as for looking right now vs. waiting short-term for prices to drop (and paying rent meanwhile) - that's surely priced in. Suppose it could still make sense to someone personally if it put them in a better mortgage position (at the risk of a worse rate).