Middle class housing is a ridiculous investment vehicle in the primary few viable Canadian cities, and has provided wild returns to people who bought a few years ago, to the point where only the rich can really afford anything now. Even people who live in modest old 1 bedrooms that they bought a few years ago couldn't afford their own places if they needed to. It's not by any stretch exclusively wealthy foreigners influencing the market though, otherwise the government probably wouldn't be enacting any legislation that specifically targets them.
