The author doesn't get it.  There may be enough "units" to meet demand but not everyone wants to live in a condo, esp. those with a family.  This is all about low rise and in particular single family detached (SFD), of which there is a severe shortage.  Thats what is leading the price escalation.  A foreign buyer tax and non-resident property surtax should be introduced but that won't fix the shortage of SFD homes.