Is Toronto going through the Vancouver experience, just some years later? 

In Vancouver, some years ago, folks were informed that the scarcity of affordable single-family detached homes, well, simply related to the massive demand for single-family detached homes.

And the loud talkers left it at that. La la la, nothing else to see here folks, better let the real estate industry and construction industry handle this by building more houses on city-owned land and on golf courses and on the outskirts of town, la la la.

But then, some years later, Vancouver university professors could not restrain themselves from stating the obvious: The only way to explain house prices in town skyrocketing to dozens of times the average annual income, the only way to explain that was a mechanism involving massive amounts of money arriving from an external source, namely, for Vancouver, overseas money mainly from Hong Kong and Mainland China, lesser amounts from millionaires in other countries...