I'm thinking it's not two-income Canadian-born people who are buying these houses. Although the Toronto Star reports that fewer than 5% are foreign buyers (hahaha what a joke - thanks TREB for your honest assessment - something Spicey would say). Anecdotally, pretty much all of us know this is wrong. My neighbours had an open house last weekend with 40 couples coming through, all of whom were Asian. Of course, most were likely Canadian, but don't tell me that there are no foreign buyers. Another real estate agent friend will whisper over drinks that 70% of his clients are foreign, but when pressed, he won't verify that to reporters. It's just a disaster for our society generally, IMHO, this housing situation. And not everyone has rich parents to help them.