You're right, but the implication of your post is that there's nothing Canada could do about the problem. The correct response is that Canada should implement

You're right, but the implication of your post is that there's nothing Canada could do about the problem. The correct response is that Canada should implement Australian-style restrictions on foreign ownership of real estate. This problem has been solved before, it's not that hard. It would suck for those who bought into the game late, those in the high-end RE business, but the benefits of having a real estate market that has actual price discovery based on the population who could actually live in the properties is definitely worth it, because housing would become more affordable, disposable income would increase, and consumer debt would decrease.