if you think that a small tax of 15% is going to slow down the flow of quasi- legal money out of korea ,China, Iran .... the writer has no clue how desperate these people are to hide the millions !!! Most countries lock them out !! My forecast is is may slow it down, but it will find another gear and another "back door" to enter into the market. It won't skip a beat for long . Welcome to the world economy !!! heheheheheh . The writer just doe s not know these people from off our shores - they are from a land far far away and will stop at nothing .the article was a  good read though 
the USA land ownership comes with full declaration of world wide income- problematic for them ! They much prefer Canada ! Easier to wash money through our banks, Easy immigration and passports too  - basically an insurance policy for them that comes with a medical card !! Jackpot !   
Sorry gang - the real-estate won't slow down a bit, or at least for long .