In terms of offshore ownership, in the city of Toronto, for example, 81% of the new housing starts are condominiums, and close to 9% of those condominiums are bought by offshore investors. If 9% of the housing stock were returned to Canadians and offshore dollars were pulled out of that market, would pulling 9% of the purchasers out of the market not also create supply for Canadians?
On May 27th, 2021. See this statement in context.