Populism is well and alive.  

If  flippers don't pay taxes, it is CRA who is  not doing its job.
If housing bubble bursts, it will be the investors who took the damages.
Units are built and they are being lived in.  That means there are demand.
The US government mandated a boost in homeownership and it resulted in housing meltdown.  And we are asking the government to help homebuyers, indirectly helping developers and investors to derisk?