International comparisons show that the rise in Toronto house prices is not an isolated phenomenon that can by explained by local conditions and contained by local measures. Housing prices in Sydney, Melbourne and Auckland keep rising, despite measures to slow down the price increases. The same phenomenon also occurs in China. We should try to understand the forces behind this international tsunami, instead of whining about local conditions. Also, if this is an international phenomenon it is not going to stop anytime soon. http://www.reuters.com/article/us-australia-newzealand-property-idUSKBN17401B?il=0