That's a bunch of BS...
Prices are up over a 12 month period (March 2016) by like 3-4% but down almost 15% since June-July 2016. Why don't you go tell someone who paid $1.3 million in June 2016 for a house in Vancouver that's now worth $1.1 million that they made money. Time is being used by the real estate industry to their advantage to frame the foreign buyers tax as unsuccessful but the numbers speak for themselves. 

The only honest report I have read pretty much ever from a real estate brokerage came from Realosophy last week, I suggest you go read it. 

Also call me psychic but I'm guessing your occupation is either:
1. Realtor
2. Mortgage Industry
3. Developer/Builder/Contractor
4. 2 or more of the above choices