1) Raising interest rates by even half a point will bankrupt the country. That was the tipping point in 2006 and they are all aware of it now.
2) Places to grow protects the larger environment - the problem is the non-citizen demand. Just as it is in Australia, UK, France, Africa - demand is being driven by China.
3) There is evidence - the jump came when the foreign buyer tax was implemented in Vancouver. In Vancouver, the tax caused a 50% drop which is what people who live there estimated (50-80 percent of the demand coming from foreign buyers).
4) Agree - no subsidies.
5) Of course we should do something - this is creating a socioeconomic problem that is resulting in political unrest - it is a public interest issue that is requiring taxpayer money to address the fallout (social housing etc.). Determine the cause, apply the fix - the cause is foreign buyers and high immigration, then apply a 100% welcome tax (like Bahamas) and move to pro-slow immigration.