Foreigners also buy multiple properties or converting basements for rental to collect rent for retirement. That by itself isn't really a problem, because the home still ends up in the rental market for Canadians. There are a number of sides to this problem and only a few tangible solutions.

(1) Homes sometimes get bought by speculators and not rented out. This is the easy one, tax vacant homes and potentially tax home flipping, i.e. homes that you don't keep for, say, 3 years at least.

(2) Foreigners cumulatively have a lot of capital to spend, and want to spend it in Canada for a number of reasons. This is not a long-term problem if they intend to live, work and get taxed here, but it causes more competition so incumbents hate it. No easy solution except discrimination by country of origin.

(3) Both Canadians and Chinese love low-rise single-family housing near city centres, and are willing to pay up for it. Unsustainable, no easy solution, attitudes will have to change over time.