It is now undeniable that foreigners (mostly CHINESE !) are pushing many cities into supper huge housing bubble !!  How come Canada gov allows this to happen and not do anything for so many years (10+ years !!) ? How come Canada banks lend money to these foreigners without checking their income and take all the risk of default ? Citizens of Canada are all suffering for high cost of living and young kids cannot afford a first house even with good jobs. IT IS SO BAD !! Please put 15% additional tax to all foreign purchases in the entire CANADA !! Also add 15% more to their capital gain when selling. And the add 10% empty occupancy yearly property tax !! This is the only way to stop this madness.  If it is not done, the 2009 great recession of America housing and financial crisis will arrive in Canada soon, very soon.