The rent controls should limited to pre-~2010 buildings and the government should waive property taxes, in an all out effort to keep get rental construction going.
But, this is pretty much the only place where I see them going wrong. I really hope that the great towers on the boards come up, and I'm sure that the impacts of these measures will cool the periphery far more than Toronto (esp pre-amalgamation city limits Toronto), where any declines will be offset by people priced out coming back in.
Overall, as Poloz himself said, the speculators and those treating housing as an asset class like any other, have really inflicted a lot of misery onto a couple Canadian cities.
Vancouver brought it on itself by staunchly protecting the 75-80 of the city that's single family homes instead of zoning them for midrise development. Could have built housing for an entire generation. Instead, people traded houses and cashed out, and everyone else was forced into highrise and the suburbs.
In Toronto and Toronto region, the price increases have been at least mitigated by bananas construction numbers. You take foreigners and speculators out of the market, keep adding your 10,000-20,000 year population growth, and you could see the same level of development but lower prices.
