The fact that a very  good portion of foreigners purchasing homes in Vancouver is Chinese plays into this narrative.2.  

Low interest rates, the institutionalization of the SFR investment market, middle class migration, differences in state tax rates and incentives, foreign buyers, particularly the Chinese, and people renting in expensive markets but investing in cheaper markets are all impacting the markets and driving up prices...This too shall pass.

The driving factor behind this seems to be a 15% property tax on Foreign money, which appears as if it was designed to specifically target Chinese money in the market.

An old Chinese investor who owns about 1000 apartment units and 30 or so single family homes called me in to value his largest apartment complex in Dallas.

I have some Chinese friends here we have also been discussion how to work on deals together so that the deposit and rates are better.  

The computer boards and drives that go into your computers, phones, submarines, airplanes, power grid and on and on all are manufactured by the Chinese with the Chinese military holding the largest stake in the companies.

Are you still seeing Chinese investors from Mainland China and Chinese buyers/investors from Brooklyn buying up parts of Mayfair? 

I replied "that's good, but did you see my ad in the Chinese paper?".

Financed Purchases - With the Chinese economy slowing, we expect further declines in cash purchases.

The President has engaged in some fiscal bullying and the Chinese are pushing back.