Who Influences Real Estate Prices?

Of course foreign buyers influence prices. So do local buyers and the state of the local economy. We cannot blame foreign buyers for high prices. Toronto for example has very few surface parking lots. The availability of developable land is very tight. Government regulations and delays make development impossible. High prices are a local issue and we need to accept the blame. It’s not like we didn’t get the warnings that this was going to happen. I for one have been talking about this for 10 years.