One of the problems is that Canadian banks will make loans to foreigners with no credit history if there's a decent down payment. The banks typically demain tha

One of the problems is that Canadian banks will make loans to foreigners with no credit history if there's a decent down payment. The banks typically demain that Canadian borrowers get a federally insured mortgage, which involves checking your income and credit history. So it's actually easier for foreigners to speculate on real estate in Canada. One of the problems is that if a foreign owner ends up underwater after a correction they can easily just walk away.