The following was VANCOUVER's experience:

- skyrocketing prices divorced from economic fundamentals of local job market
- real estate industry loudly denying money from overseas is major player
- houses suddenly sell within days of being listed
- houses sell for 25 % over asking in bidding wars
- houses on rapid trajectory towards dozens of times the average annual local income
- realtors and developers blame lack of supply as only source of problem
- realtors and developers shout that more house building is only solution
- realtors throwing the word "racist" at anybody who suggests overseas money at play
- newspapers and politicians tacitly approve of labeling, as racists, anyone who doubts realtors
- no government doing anything effective to protect affordability for local workers
- newspapers blame a vibrant local job market and low interest rates as the key culprits
- journalists avoid identifying money from China in news reports  

Gee, any similarity with the TORONTO situation?