TORONTO — Canada on Monday announced a two-year cap on the intake of foreign students after explosive growth in recent years aggravated the country’s housing shortage. The new proposals will also set limits on post-graduate work permits issued to foreign students, which will likely encourage them to return to their home countries. Canada has emerged as a popular destination for international students since it is relatively easy to obtain work permits after finishing courses. But the surge in international students led to an acute shortage in rental apartments, which pushed up rents. Some businesses, including restaurants and retail sectors, have warned that a cap on foreign students will create a shortage of temporary workers.