Hi, Doc.  Two recent foreign purchase surveys were done by the BC government since mid-summer, each covering about 2 weeks of real estate transactions.  One: July/Aug before tax Implementation, another in the fall.  Both indicated that, overall, the foreign purchase component was less than I2% of the deals.  Even 15% would have qualified as "minor" in my mind.  And these includes EVERY conceivable type of foreigner, including Americans (who rank as Canada's 5th largest immigrant cohort. Source: stats can)

So, this begs a number of questions: 
1. Who was involved in all non-foreigner deals?  Probable ans: obviously a combination of established local renters and owners and Canadian in-migration.

2 does the total value of these deals equal or surpass that "flood of overseas billions"?  Probable ans, based on about 90% of all deals, yes.  

3. Re: pricing out local workers.  Yup...many are priced out (see #1) 

4. Other causes? Lack of available land and high demand by domestic buyers.