I don’t get the impression that the Canadian government wants to do anything about its housing crisis.
Yes there are unsustainable levels of immigration, but the levels are set deliberately to keep the housing bubble alive and to suppress local wages. ^1^
Foreigners are also easy targets to blame when the housing “crisis” is really just a depraved economic scheme.
Corporate ownership aside, owners outnumber renters in every province. Canada has a large population that will not support affordable housing because it hurts the appreciation of their property. ^2^
^1^ Adding 1.1m new people with only 200k new housing units skews the demand and supply on the housing market to jack up the cost of housing to $2,500 for 1 bedroom at a minimum wage of $16.55, so you’re looking at negative $600 per month of income for full time work after taxes and rent.