...or international investors buy them up as an asset store or to launder money, leaving them mostly vacant. We unfortunately live in the real world, not an economist’s toy box, and have the example of Vancouver to prove it.
Isn't that a separate problem which Vancouver is already trying to fix by occupancy rules?
Vancouver is fixing the problem that the parent said is the solution - build a bunch of luxury stock to solve your housing crisis. It doesn’t work out that way in reality, which is what they’re now addressing.