In bad housing markets like Toronto and Vancouver people don't tout the benefits of wealthy foreigners (immigrants or just investors) buy houses and making the area unaffordable to the locals.
I'm not buying the "wealthy foreigner as the main culprit" story. Surely they add to the existing demand and it's always nice to have an external scapegoat, but there's clearly something bigger going on than just foreigners. I'm thinking continued difficulties to build housing without going through multi-year permit processes, most of the city still being NIMBY'd into low-rise SFH zoning, and the sizeable number of millenials both getting wealthy enough to buy into housing as well as getting FOMO from continued price appreciations.
But it's always nice to have a plausible explanation for why the innocent locals aren't at fault.