First off, the foreign investment in housing in Canada represents a very small percentage. It's not hard for a foreign investor to set up a shell corporation in Canada. To point fingers at international investment in Canada as the cause of financialization is one that is dangerous and short-sighted.
The vast majority of financialization happens here in Canada by companies in Canada. That is the first issue that I have with this. It's only addressing a small percentage and it's not going to stop the loss. The loss has continued since those changes have come into effect after they were announced in the budget last year.