The problem that explains a lot of the comments is plain and reasonable regarding the sky-high price of houses.

There is an insatiable demand by overseas money - as one realtor was quoted in this paper, a "limitless demand" - for detached houses in Toronto (and Vancouver).

That is a DEMAND problem.

And you cannot solve that DEMAND problem by building another 10,000 or another 60,000 detached houses in Toronto or Vancouver. 

Indeed, that fact is emphasized by the fact that so many homes in Toronto and Vancouver sit empty. They are bought and they are empty. They are more like gold bricks and Swiss bank accounts than they are like houses. Thus the move to introduce taxes or penalties to push back on this nonsense.

It does not help a housing problem to go and build lots of gold bricks and Swiss bank accounts on city land. It is better to change policies so that LOCALLY EMPLOYED WORKERS are favoured to fill the homes with people whose breadwinners work locally and pay income taxes.