Also, Vancouver grossly underestimated the number of vacant homes and condos.  Not 11,000 but 25,000.  Enough to also skewer the rental market in those cities.  For decades the housing market in Canada rose and fell in tandem with the price of oil and gas.  Since the last downturn there has been a complete disconnect and when ruling out other factors, foreign billions explain the continuing bubble. I suppose the Trudeau plan is to keep the billions coming in to ensure the market doesn't tank?  If so, these folks should at least be taxed on their global income.