[refurb]

Not sure about Amsterdam, but property prices in Vancouver and Toronto are heavily driven by the middle class over-extending themselves on credit with a little help from “The Bank of Mom” on the down payment.

Sure, the wealthy are buying to, but based on average debt levels, it’s mostly people who can’t afford it.

[ABCLAW]

As always in the Canadian Real Estate discussion, the RBC reports have the best data and analysis.

http://www.rbc.com/newsroom/reports/rbc-housing-affordabilit...

The Toronto and Vancouver markets are in territory that is shocking and in Vancouver's case, literally numerically impossible to sustain without constant infusions of external capital.