I beleive they said similar things in Vancouver about foreign investors.
If that was the case why would the foreign investment tax have such an effect on the market?
Maybe more than 3-5 % was being bought by foreign investors...
When I see foreign investors pay $300,000 more a few months later for a similar subdivision home that sold a few doors away, that just doesn't make sense. This is what is driving the market up and up!
I've been in the real estate market for 30 years and its just so obvious.
Demand and supply simple economics. There Buying up everything and not putting anything back into the market place...sorry except for some rentals :)
Our government needs to wake up before its to late !