The proposal would impact expats the most, and wealthy foreign investors would probably find a way around it. Also, I bet internal housing prices have resulted

The proposal would impact expats the most, and wealthy foreign investors would probably find a way around it. Also, I bet internal housing prices have resulted from internal investment/cash parking. Thus, building housing is not the only real solution. In my opinion, a simple, progressive land tax would go a long way in addressing the housing shortage.