Well I reject the opinion of the real estate broker. There were real estate industry folks  floating the same theories about Vancouver years ago, all nonsense.

Look, wake up. We are not talking about "speculators" here (roll eyes).

What we are dealing with are breadwinners trying to buy a house for their families. Those are NOT speculators.

Vancouver's process was plain to anyone paying attention. A flood of overseas money skyrocketed house prices to dozens of time the average annual local income. Like dominos falling, the high prices spread outwards to surrounding communities.

The result was obvious. To buy a house, locally employed breadwinners were forced to leverage more, they were competing against a tide of overseas money, a new phenomenon.

Let me repeat: To buy a house, locally employed breadwinners were forced to leverage more, they were competing against a tide of overseas money, a new phenomenon.

Today's verbal acrobatics by the real estate broker are a smokescreen.