Actually you're not quite right. 1) 'Foreign Buyers' are price insensitive. In a market without much rational pricing, it's the 'confident signals' that set th

Actually you're not quite right. 1) 'Foreign Buyers' are price insensitive. In a market without much rational pricing, it's the 'confident signals' that set the price. i.e. 'Foreign Buyer' comes in and buys for 5% 'above asking' on Street A. What happens then, is all the other houses on that Street set their prices a big higher, and hold. Other buyers see that sale, and it 'validates' the price for everyone else. More sales on that street, set the pace for sales in the area. etc.. Everyone is 'following' the confident bidders. 2) 'Blind Bidding' just favours the seller. Buyers will only ever bid what they are willing to pay - not more. It's just a form of auction, that's it. It's not unethical. 3) Low interest rates 4) Way too much migration There is actually already enough construction. The notion that a city should expand it's services and population at break neck pace to accommodate the world's population is crazy. It's a 20th century 'body count' growth delusion strategy.