I've notice (during my hosing hunt), that a lot of condos in Toronto are actually own by people not living in Ontario (let alone Toronto). If we have a foreign buyers tax, why not something similar for people buying/selling homes who don't even live in the province?
Homes, condos, apartments, etc. should first and foremost be for living... NOT investments to make money. Priority for home ownership should be for residents who live in the city/province of where that home is located.