A goodly mixture of economic myths and dog-whistling in this clip, but nothing that LVT wouldn't sort out. If all those super-rich were paying super-high LVT on their "investments" either they'd sell up (not that that would make much difference, except to those who don't like having super-rich foreigners living in the UK) or they'd pay their LVT and then, who cares (apart from the aforementioned...)?
As one commenter points out, this problem is nothing new in places like Cornwall, but no-one takes any notice until it begins to bite in London, probably because, in Cornwall, those super-rich "foreigners" are the same Londoners who are now squealing about high prices. Also because, as this clip amply demonstrates, there is no understanding of the actual cause of the high prices, which is the increased buying power of the foreigners, instead ascribing it to lack of supply.
Debate Magazine
