Sorry folks.  Seems like most think owning a house is a God-given right, a civil right or a human right.  Guess what?  That's not the case.  It's not about foreigners, IT"S ABOUT INTEREST RATES.  There is no supply-side solution in this situation (unless you are prepared to wait 5 - 10 years).  This is clearly a demand-side issue.  Hike interest rates substantially and housing "problem" is solved.  The only problem with that is that the collateral damage to the economy as a whole would be devastating.  A tax on foreign buyers or vacant properties will do nothing.  The BoC is NOT going to raise rates with because of house prices.  As Bush senior used to say "not gonna happen."