[cornholio]

The system here is setup in such a way that not only allows but attracts foreign investment and speculation in to real estate prices(this includes all the wealthy people who gain residency status through our flawed immigration process).

This is unsustainable in the long run and eventually action will need to be taken by the Federal government, and this action will put downward pressure on prices. Canada is one of the few western countries left thast still doesnt have a solid policy and restrictions on foreign realestate ownership and investment, like most other western countries eventually Canada will be forced to also create restrictions and new policies.

Right now our prices reflect the demand of our realestate globally, and thus are inflated. However eventually realestate will be "mostly" available only to citizens and the prices will change to reflect the true demand, that is the demand by the people capable of using it(citizens and residents).

I do think the conservatives with a majority will tackle this issue, and as we speak one of their current priorities is revamping our immigration system which believe it or not will make it harder for people to buy their way in with their wealth.

Every time a new resident comes in that is wealthier then the average Canadian then our realestate prices go up, yet the buying power of Canadians doesnt. That is why immigration needs to be balanced.

You can be sure of one thing though, in the future it will be harder for foreigners to buy and thus inflate realestate prices, not easier.
The question though is when will this become a public enough issue and be taken head on by the feds.