It is true that the influence of the foreign buyers is not all bad, in the short term.  Obviously there are massive numbers of construction jobs, realtors, bankers, nice "immigration consultants," lawyers, Liberal bagmen, etc.  (A couple of sarcastic ones in there.)  If you have been working building Toronto condos, true, you have had work.  Nonetheless, this is not the basis for a sustainable, fair economy.  When we limit domestic credit, and cut off foreign buyers, it is true, prices will crash, and a short downturn probably occurs.  But as CANADIANS get to buy houses at lower prices, they will buy, add suites, have babies, buy furniture, buy cars, be able to move, and have money to spend, since not every nickel will need to go to the mortgage.  The worry is that governments will not have the nerve to do what is needed.