A serious problem with this analysis, as in so many others, is that foreign "people", e.g. immigrants are conflated with foreign investment.  The problem is foreign investment, regardless of source, buying up and bidding up Canadian real estate, and then ultimately selling or renting residential property to Canadian permanent residents and citizens at high prices.  We risk becoming tenants in a country we no longer own.  This has nothing to do with the Chinese.  A similar situation has happened in Ireland, and the "culprit" there are US banking interests.  
The other issue I have is that it's said we don't have the data that indicates this is a problem. If we don't have the data, we don't know that it isn't a problem, and there is much colloquial evidence of a serious issue.   Foreign buyers tax across the country is the only way to go.  If there are loopholes, then close them.  To do otherwise harms our young people AND upwardly mobile immigrants who are here permanently.