Unpopular Opinion: Banning foreign buyers will NOT solve the housing crisis, we need to BUILD more

I recently saw a post on here about how 78% of Vancouverites support a ban on foriegn buyers....

Thing is... banning foreign investment won't make housing affordable... all it will do is lower the price of luxury homes slightly (not effecting most people) and it will close a huge and steady supply of money that supports our economy.

If we want to make housing affordable we need to allow people to build high density homes within our city... Even without foriegn buyers (which make up less than 4%) the supply of housing won't meet the demand .

Unfortunately our mayors get lobbied by huge development corporations who benefit from the scarcity of new developments and high prices. Mayors and city councils have effectively made re-zoning impossible for the average citizen, squeezing supply, and causing prices to skyrocket...Foriegn buyers are just an easy scapegoat to mask the corruption and to ignore the basic solution to any suplly/demand problem (when demand is high, PRODUCE more)

Countries that *have* banned foriegn buyers have seen NO effect other than lower foriegn investment (= slower economy), housing costs have NOT fallen... we should go by the facts, and do what is best for both the overall economy and the average citizen.

In my view the only method to *decrease* housing costs is to build MORE, there are 1000's of Acre and 1/2 Acre plots of land across metro-Vancouver that serve single families right now, whose owners would *love* to subdivide into 6-8 single family homes or 15-20 townhomes (effectively increasing supply 10-fold, bringing costs down)

Sadly our focus isn't on the big corps. and city councils that are blocking this from happening, for their own personal gain.

Edit: Adding an exchange I thought was relevant.

>We're already at a record rate of construction. The cost of construction has risen dramatically in recent years because every builder's busy.

I dont expect us to start erecting homes left and right immediately, but by 2040 47% of metro Vancouver jobs will be lost to automation, through the next few decades many service jobs will transition into trade jobs, and more and more young people will become tradesmen to fill that gap.... this is a win-win in my book.