"Recent analysis by RBC reports four factors accounting for... price increases in Toronto: low borrowing rates; higher incomes; higher percentage of incomes used to pay mortgages; and the bank of mom and dad all contributing to strong buying power."

Wow.

I think that all just goes to show that the RBC is way behind in its reading, as the following headlines and exerpts nicely demonstrate:

More and more Chinese and other Asian investors appear to be moving their money to markets in Seattle and Toronto after a new tax

China is buying Canada: Inside the new real estate frenzy

In Richmond Hill, a Toronto suburb favoured by many Chinese investors, homes are now typically 1.3 million

National Bank of Canada economist Peter Routledge has hypothesized that Chinese buyers in 2015 shelled out nearly $12 billion on real estate in Vancouver, accounting for 33 per cent of the city’s sales. For Toronto, he pegged the number at $8.4 billion, representing 14 per cent of sales