Although I'd be fine with preventing foreign ownership, I doubt it would do much to limit demand or prevent price growth in the major cities due to population inflows. That not only includes the almost 1% population gain that Canada gets every year from immigration but also the movement of our existing population toward these cities as the economy shifts more and more towards services and away from needing people in the resource and manufacturing industries.  We might get a bump in manufacturing as the world gets more protectionist, but it will likely also locate near to the big city for the labor supply and other needs.