As with BC (Vancouver), imposing a foreign buyer tax in ON (TO) at this point is moot. Housing in these two markets is ALREADY priced far beyond the reach of most wannabe homeowners. That ship sailed years ago; the damage is already done. Unless we have a serious housing correction to address these runaway housing prices most middle classers hoping to buy into the market now will simply be shut out. The best thing the government can do to cool the market is to raise interest rates but they're so addicted to cheap debt now (like so many consumers) that they're reluctant to do so. When the housing bubble pops it's going to be disastrous.