It is symbolism when everyone who is paid to think in this space considers it not to be a solution to the root of the problem, which is a lack of housing supply to keep up with job growth. You've banned foreign investors, great, there are still domestic investors who will fill the void in the market like gas in a small room. If you want there to not be investors, then housing shouldn't be such a great speculative asset to invest in, and it only is such an asset because local governments have opted to constrain supply and support investors rather than the workers they represent in their constituency.

"local governments have opted to constrain supply and support investors rather than the workers they represent in their constituency."

The local governments zoning laws might benefit investors but that may not have been goal of the government. What should they do to support workers?

>What should they do to support workers?

Zone for more housing.

> current housing prices are way off their peak from a year ago

The only policy that impacted this was the Bank of Canada’s interest rate policy. Houses were rocketing up right until the moment rates started increasing.

It doesn't move the needle. It's symbolic.

That's true. Will this policy not have any impact?