Though the average price of a home in the GTAfell slightly in Marchfor the first time in many months, Ontario's housing market continues to be ridiculously hot, with ever-skyrocketing pricesand dwindling supplydespite a flurry of new construction.

While most people in the provinceare finding themselves hard-pressedto be able to afford a home here now (or ever), many are blaming overseas buyers at least partly for the current state of things — and various levels of government have come up with new ways to address the issue.

Investor-owned homes have reached record highs as of late, with people who already own multiple properties cited as being behindaround 25 per centof home purchases in Ontario during 2021,driving up pricesto the current $1.3 million for the average home in the Toronto area.

Just got pitched "Laneway houses are the solution to the housing crisis!"

How about...
More co-ops
Higher wages
Lower home prices
Dealing with foreign buyers (higher tax/ban)
建造更多的保障性住房
Affordable housing programs (rent to own)

Not the damn laneway house.

— Stephanie. (@stephanie_hinds)April 7, 2022

Though anon-resident speculation taxof 15 per cent across the province and avacant home taxof one per cent in Toronto specifically were meant to curb how many of these investors are those who don't even live here, the trend still persists, with 7.7 per cent of new condos in Toronto nowowned by non-residents, according to StatCan.

Foreign homeownership overall continues to rise across the province,reaching 3.4 per centin 2020, and many are calling for more drastic moves from leaders as a result.

YES ban on Foreign#buyers- will nitpick more later but this is must (easy to reverse/adjust no excuses) - ban "For 2 Years" - a good move for a true economy.#realestate#cdnpoli#onpolihttps://t.co/LaHh6R5EI1https://t.co/pXA1wVtoad

— Raquel Goncalo B.Arch. (@RaquelGonStudio)April 7, 2022

Last week, Premier Doug Fordupped the tax ratefor foreign buyers to 20 per cent to tackle the housing problem, along with vowing to "enhance measures that will crack down on land speculation," and more.

And now, Prime Minister Justin Trudeau hasmoved ahead with his own plantoban foreign homebuying in Canada completelyfor two years as prices nationwide have jumped a whopping 50 per cent in just as much time.

The federal budget being tabled on Thursday is expected to focus largely on the untenable cost of housing in the country, with expertstelling CBC news todaythat "if there's one theme that they would like Canadians to take away from this budget, it's that the government is trying to help people on the housing question."

There is a confusion, or failure to distinguish between, foreign buyers + domestic investors. Gov'ts target foreign buyers, but domestic investors are given a free ride. Taxing revenue from housing investments as employment income would have an immediate cooling effect.

— Jennifer Keesmaat (@jen_keesmaat)April 7, 2022

Though it's great to see the government doing at least something to combat housing prices that have soared exponentially higher than general inflation rates, many are pointing out that something also — perhaps more urgently — needs to be done for investors here at home who are hoarding much-needed supply to flip or use as income properties and causing prices to climb as a result.

With this in mind, some are calling the foreign buyer banmisguidedand not at all a proper solution to the massive problem.