The way to fix this problem is to stop allowing people to launder money or otherwise shift off-shore assets into the Canadian real estate market.  There should also be limits on how much foreign investors can purchase of Canadian businesses, though that area affects Canadian homeowners less than the direct inflation of house prices by off-shore economies.  

And just as the investment industry is finally being taken to task for fees, the real estate market also needs to have fixed costs implemented and regulated across Canada.  

There are areas that will be more desirable that others and therefore more expensive.  But what has happened and continues in the housing market will not be corrected with tiny incremental changes that punish first time buyers and reward individuals who cannot even demonstrate where that money came from to buy property in Canada.