> It'd be interesting to read more about the actual numbers involved. Indeed. It's hard to get actual numbers because Canada is one of the few Western countri

> It'd be interesting to read more about the actual numbers involved. Indeed. It's hard to get actual numbers because Canada is one of the few Western countries that doesn't make public the statistics it collects on who's buying stuff... > but it turns out that it is a tiny, tiny percentage of housing there The relevant metric is the percentage of sales, not the percentage of total housing stock. But yes, the situation in New York is nothing like Vancouver; New York has tons of rich locals driving up prices and even a lot of the absenteeish owners in New York really do want an apartment in New York to use for that one week a year they're in town. They may be somewhat price insensitive, but not desperate to buy anything right now to get their money into real estate in New York.