What are interest rates on mortgages, and what percent equity are homebuyers expected to have in order to qualify?
I believe foreign buyers is also a scapegoat in Canada. At first I believed it when home prices were only growing at obscene rates in the major cities but now it has spread to every tiny community in the country, literally from Newfoundland to the Yukon. This is a direct consequence of interest rates being too low for too long and capital having run out of good places to go (zero interest rates, equities at peaks, etc).