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.