I think the market has been affected by both Christie and Justin.  The high end overseas buyer is probably turned off by the 15% but may just overlook this when, and if, the Cdn$ drops to $0.65.  The lower end market was killed by the Feds. when they forced low down payment buyers to ante up at CMHC rates - typically 2% higher than market rates.  Condos are now languishing on the market for weeks and months where once they were snapped up in hours or a few days.  Christie, always beholding to her condo developer donating friends like Bob Rennie heard their whining and now offers an enticement to those low down payment folks in the form of interest free loans.  Viola, get those people buying condos they can't really afford and help her  buddies and throw out a bonus to young, potential Liberal voters in time for the May election.  So what if they they loose their down payment when interest rates go up and the provincial coffers take a huge hit as people walk away from their places.