Perhaps I'm a bit jaded from my experience living in Vancouver, but historically Canadians had the option to move here and accept a somewhat lower standard of living in exchange for the nicer climate we enjoy. That option is now largely gone, and I expect it to be completely gone within 10 years, and after that it will be the other most desirable locations in the rest of Canada. It is simple economics. Aussies and New Zealanders among others are experiencing the same thing.
Of course, detractors can easily point to government "statistics" (that completely ignore blind corporations, proxy purchases, etc) showing foreign activity in real estate to be <5%, but I suspect the main reason most everyone (or at least voters) chooses to "believe" this obviously fake data is because a lot of people are making a loooooot of money from this shift in world order. For now. Let's see how happy are when it is their (and their children's) turn to pay the piper. You made a couple million bucks on your house? Great! Better hope you have only one child, because you cannot buy a home in Vancouver with earned income any longer. Oh sure, you can get a condo, for now, but soon even that option will be beyond reach. Luckily for Canadians we have a near infinite amount of beautiful land (weather, not so much), so there will always be somewhere for us to go, other countries I'm not so sure are similarly blessed. But either way, I'd have rather we retained our sovereignty.
I hope I'm wrong, but I don't think so.