[louison11]

Money invested from abroad is money coming inside the economy - whether the person lives there or not. That money goes to the seller, who'll then get taxed on it, spend it somewhere else... Or that money could be used, as I said, to build new buildings and rehabilitate old ones, thus creating jobs in the process. If the system was well set up for it, foreigners investing in a country is usually a good thing. The US is super foreign-investment friendly for example, doesn't hurt them.

Besides, if foreigners are investing solely to speculate - if they did fix the supply constraints, the opportunity for speculation would greatly decrease. It's only an attractive investment because the supply is so finite.

[whazor]

Alternatively, I got my current house because of KYC laws.

The house bidding was originally won by someone abroad. They overbid the house by a lot. However, because of the KYC laws, that person needed to proof their income is legitimate, which they couldn’t. Therefore, we got the house.

Building new houses costs 10 years in my country. So building new houses is not fast enough to create new affordable houses.

[throwaway4aday]

Worked great for Vancouver /s

[JumpCrisscross]

To be fair, you're referring to one of the largest and fastest-growing economies in Canada [1]. (It also has a massive affordability crisis despite a ban on non-student foreigners buying expensive real estate.)

[1] https://www.katrinaandtheteam.com/blog/vancouver-bc-economy/