I believe the Prohibition on the Purchase of Residential Property by Non-Canadians Act went into effect this year, it's going to be interesting to see if that does anything to help the situation, I'm cautiously hopeful. Fun story: When I graduated from college (20ish years ago) I moved to Toronto, one of my school buddies was a Chinese guy who mentioned he would be able to get me decent rent on a unit in a new construction condo because of some family connection. I took him up on it and lived there for 2 years. Over those 2 years I lived on a "ghost floor" - I was the only person on my floor and nobody was on the floor above or below. A family office had bought up 3 floors in the building and I was living on one of them. It was surreal to say the least.