If there is anyone "in the trenches" dealing with the frustrations of the current real estate market, they are the Realtors who are trying to help local buyers achieve their goals. To discount the opinions, experiences or comments from any Realtors would be foolish as their experiences are the most timely you can get.

I have worked with MANY buyers over the years... only a few of them are foreign. I can tell you that the majority of my 11+ years as a Realtor were working with end users. Yes, even the Chinese ones. There is no denying that foreign money exists, but the impact on our overall housing market is extremely difficult to measure since there is no reporting function on home buyer intentions (and I agree there should be). Is a 15% non-resident foreign buyer tax going to level the playing field for the average home buyer? No, not really. Multiple offers are still coming onto the table, prices are still going to increase. Just not at the pace we have been running at.