I don't think that foreigners are the only ones to blame. Frankly, I know a few neighbourhood rental lords (a guy who owns 20+ units in my condo building, and another guy who owns 10+ houses in the suburb I moved to), and both of them are white Canadian-born entrepreneurs.

 I think in a bigger picture there are a lot of things that needs changing, from using residential-zoned properties as rental investment properties, to tax treatment of rental income, to foreign income controls, to housing supply policies.