I think a lot of pundits and observers don't quite realize that there are only a few places in the world where the top 1% rich immigrants from China and other c

I think a lot of pundits and observers don't quite realize that there are only a few places in the world where the top 1% rich immigrants from China and other countries can actually feel comfortable moving to. Speaking only of Canada, Vancouver is one such place. Toronto is another. The relative housing price increase in places like -- say, Halifax -- although has gone up, will not be like that of Vancouver's or Toronto's. You need to follow the flow of money and the reason why there's the flow of money there. In this case, 1% of a very large population simply means there's going to be a lot of demand for flight to safety into Canadian real estate in Vancouver and Toronto -- two places where a lot of immigrants have already moved to. It's sort of like trying to start a new social networking app... you need a network effect for the app to even reach critical mass. Vancouver/Toronto -- that's what happened there.