What is the author's opinion on government intervention in the market?
The market is always right...oops I don't like what the market is doing...lets regulate!
Think for just a minute that the buyers, be they domestic or foreign, have all accumulated the financial where with all to either pay outright or place a down payment and carry the mortgage on a house in Toronto, are prudent investors...the only other conclusion is they are imprudent (stupid).
Leave the market alone.  If the doomsayers are correct those that cannot or will not participate today can line up for the bargains when the bubble bursts!