Take a longer term view and not just focus on flippers.   Tax for capital gains in stages over 10 years starting at three years.   Say, if you sell within three years, tax as income based on 100% inclusion.   Within 5 years - 75% inclusion.   Within 7 years - 50% inclusion.   Once you've owned for 9 years, there is no capital gains tax at all.  (The cut-off's can be adjusted, but keep the first one at least three years to discourage speculative flipping.

Make sure the data are captured and registered properly.   Allow for some kind of exemption for life-threatening illness and so on that requires an application.   Pain the neck and "nanny-statism" - I know.   However, we are where we are because action wasn't taken a long time ago. 

It also makes sense to consider foreign buyers, especially where they have no connection to Canada.   (e.g., are not citizens)   The big issue seems to be that nobody is capturing the data properly.   Capture good data and stop avoiding the issue.