Canada's hot housing market is a DEMAND problem (not a supply problem). Anyone in the world is allowed to purchase property in Canada. No amount of new houses will stop this. As such, it is very strange to see this NDPLiberal government that is all about inclusiveness, diversity and immigration now speaks of "foreigner" as the bad guy (for Canada's Housing). Must be recent polling numbers on how to win a majority.
If the NDPLiberals were truly serious about housing, rather than tackle the supply problem and build a fairy tale amount of new houses, condos, etc. they would tackle the DEMAND side. Replace the "one year" mandatory period to live in a house in order to claim as a primary residence for tax free status with a mandatory 10 year period (or similar, longer term period) that matches reality of how long a primary residence is used for living purposes (rather than flipping or speculation purposes). Even replace with a declining scale (one year is taxed like a normal capital gain sliding to zero after say 10 years). This would stop speculation and flipping for everyone.
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