It sounds like you have no idea what's going on.  Rich Chinese investors (and REITs) are deploying hundreds of millions of dollars in capital to buy EVERYTHING across Canada.  Individuals and REITs are buying small 1 bedroom condos and houses by the dozen, farmland, commercial real estate, anything they can get their hands on.  This isn't limited to "luxury houses" as you've probably been led to believe.  Chinese middle-class families are pooling money together to buy residential real estate in Canada's big cities as well.

This is causing a  pretty major distortion in the market, and if this group of buyers disappears things could change pretty quickly.