From what I've read before, the issue isn't foreigners buying the homes to live in, it's foreigners using it as a way to move cash out of their own country to hedge against devaluation/government blocks. A lot of the houses don't even end up being rented out, they just sit vacant.
This. Too many canadian homes are sitting empty. Those who dont live in the country are less likely to actually live in the homes they buy. It is a hamfisted approach but at least they are trying something direct to address the vacancy issue, something other than moving money around.
