Our 'housing crisis' is not a local issue, it is the result of global capital flows and the rich pursuing their interests. That is the argument outlined in The Tyee; William Rees puts the case forward - referencing economics and ecological logic. This is a very good analysis.
Rees also also builds links to the growing foreign investment in agricultural land all around the world. The free flow of capital alters local markets and undermines local communities; putting democratic institutions at risk.