I assume the OP is referring to (largely Chinese) real estate buyers, where the goal isn't so much earning a return, but instead finding a safe place to stash money. I know this was reported as a problem in Vancouver, BC, but I'm unconvinced it's a true problem outside of hyper-local areas. I've also seen the same argument about luxury flats in London (mostly Middle Eastern buyers here).

And of course, the reporting always calls out the non-native buyers, largely ignoring that wealthy Americans, Canadians, and Brits also own multiple homes spanning many nations, and can't inhabit them all at the same time.

They built loads of condos in Vancouver which were only advertised for sale overseas in Asia. Residents in Canada weren't given a chance to purchase.

40% of Canadian Federal MPs are landlords.