Foreign buyers were not the bulk even in Ontario. We were driven by 1.5% down payment subprime like Home Capital.  The foreign buyers only amount to a max of 15%.  That was not the problem. The rent control, coupled with interest rates, and threats of rule tightening pretty much shut everything down. They keep repeating the talking point, but that's not news.  news involves actually looking at facts, then reporting on them, not just repeating the government talking point.