A government intervention is/was needed.  Canadian residents need to be able to afford to buy or rent a place to live.  Foreign capital used to monoplize housing in Canada should not be allowed.

What was going on in the GTA housing market was a market failure; something had to be done.

Now, what is a reasonable price for a house in 2017? Would a 4 - 6% year-over-year price increase be considered reasonable? If that is the case, if one pays about 80% over the 2005 sale prices or about 60% over 2007, that should be ok. Paying for a property that has increased in value much more than those percentage increases would be too much and bound to fall either in the short-term or plateau in the long term.

https://twitter.com/MukHomam/status/851805647297548288