Foreign buyers are a scapegoat in Canada. The real issue is that individuals/corporations with large capital bases are buying out many real estate properties, s

Foreign buyers are a scapegoat in Canada. The real issue is that individuals/corporations with large capital bases are buying out many real estate properties, sitting on the properties for a few years for the value to appreciate, and then buying more properties with the additional capital gained by the real estate market going up. Real estate value is going up faster than mortgage rates which means you can expand you property holdings in perpetuity. It is basically a big game of monopoly which is unfolding in slow motion. I firmly believe that housing is a social good first, and an investment vehicle second and so we should be taxing any property which is not the primary residence of the owner to equalize the playing field between those with a large capital base and middle class families who just want a stable place to live.