It is all about SUPPLY and DEMAND that is economics 101, the rest is fake news.

Demand = 2 plane loads of immigrants arriving each day + 2 street car loads of young people leaving home or people migrating to the city each day.

Supply can not meet, we can not build enough houses or condos fast enough and there isn't enough space to do so..

Taxing foreign ownership will only effect the supply a little bit, it just keeps the price down a little bit more, it does nothing to address the real problems.