You are missing the "ly" at the end of "overwhelmingly."  But, there are indeed some  short-term benefits to all the money pouring in  -  mostly to older sellers, some to their children, and of course a good number of construction jobs as the wealthy newcomers redo or completely rebuild.  However, the costs are much much larger - an entire market gone from very high to outright insanity, no hope of living in or near Canada's two largest cities, with even a university-level income, crazy prices in the other cities, firms unable to get workers in many places, reduced family formation, and a generation told to forget home ownership.  If ownership was limited to citizens and permanent residents, the market would crash, and that would be fine.  Canadians would then buy/subdivide/renovate, etc., in huge numbers, once they could get property at a fairer price.    Trudeau will be shocked when young Canadians abandon him in droves in 2019 - and he's so obtuse he will not even know why!