> Does it have any effect on the local real estate market?

- a quick look at real estate sales/prices over the last 4 years from the local real estate board[1], doesnt look like its had any negative impacts

period | # unit sales | avg $

2014 - 1708 - 274,655

2013 - 1446 - 263,223

2012 - 1539 - 255,538

2011 - 1322 - 247,850

1] http://www.mhreb.ca/market_update

EDIT: formatting