5 stars and 100 points for an article that finally pinpoints the problem. That being said, Canada should assist it's citizens by establishing a Federal tax on foreign real estate ownership. It's not up to the provinces. it's up to Ottawa. A 50% flat tax on foreign real estate purchases would generate enough revenue to assist with affordable housing for those in need. In addition, the principal residence tax free status should only apply to Canadian citizens who pay income tax in Canada and reside here the bulk of the year (thus paying HST on living expenses etc). Simple solution.