Speculation is not based on the market of people who want housing. Speculation is based on the price of housing going up consistently. Vancouver had the issue w

Speculation is not based on the market of people who want housing. Speculation is based on the price of housing going up consistently. Vancouver had the issue where many buildings were sold and kept completely empty. They were investment vehicles because the market was always going up. It wasn't to do with "how much you can make in rent" it was being able to invest large sums of money in a property.