Look at Canada (Vancouver and Toronto specifically) for a glimpse of how bad it can get if anti-development urban policies combined with pro-home-inflation mone

Look at Canada (Vancouver and Toronto specifically) for a glimpse of how bad it can get if anti-development urban policies combined with pro-home-inflation monetary and banking policies are allowed to run unchecked. The prices are even more insane than San Francisco / Silicon Valley when considered as a multiple of median income. It's really kind of incredible. These prices seem economically impossible, yet there they are and houses are apparently selling. It seems like there actually is no ceiling to house prices. A lot of people blame cash buyers from overseas using real estate as a financial instrument but I have yet to see hard evidence that this is prevalent enough to explain this madness.