The problem with real estate in the GTA is more due to the Free trade agreement we signed with China 20 something years ago. The fact that the US does not have this problem highlights that. For those who don't know the Chinese are quickly and inexorably taking over as many Western economic entities as an example Inter Milan, AC Milan and Leicester City are football (soccer teams) in Europe that are owned by the Chinese. We signed the death of our economy with  that agreement. Just like the tool and die industry and circumspectly the retail industry our housing is effected the same way but with a different dynamic. There are more multi millionaires in China than the entire population of Canada. There is a reason there is no data and every real estate agent and most financial analysts are saying that supply is the problem. It would never have been a problem if our governments had never changed the law on owning residential real estate as a forgein buyer from outside of the commonwealth.