Taxing capital gains on a Canadian citizens' house is a crazy idea.  Imagine a family having to upsize or downsize to a bigger house either due to a job relocation or change in family composition.  Housing prices, much like everything else, has always gone up.  Are we to create a disincentive or penalize people who move due to circumstances beyond their control?

Introduce a foreign buyers tax and restrict foreign ownership of residential properties.  That will ensure that Canadians do not have to compete with the global market for housing.  We all know that housing is critical for the local population, so why are we letting foreign speculators skew our housing prices.  Who has Canada's best interest for the long term?  Foreign speculators or citizens who live and work here?

Governments building affordable housing without addressing foreign buyers is also not the best idea.  It will simply be an endless cycle of shoveling more taxpayers' money down a bottomless pit.