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I don't know if you can call it entitlement, or the economic environment is just changing everywhere. Seems that the American dream of owning a detached houses, a car, a dog, 2 kids and a wife have been dying for a while. We're moving to more density across the board because there are just too many motherfuckers in this planets that everyone is competing for more desirable places such as North America/ Europe, etc.
The gap between the rich and the poor is more and more obvious now, and the middle class once the backbone of North America is going into extinction.
So it's an issue and I believe the government will need to intervene and protect its own citizens from foreign money. Some say the stock market is free, they just haven't a clue. It's heavily controlled and manipulated by the central banks. Leave to its own device, the market will be killed by greed, which is in human nature. Have we not learned about it 2007-2008? Then everyone will suffer, including the guys bragging "I bought early and now have paper value increase so and so". That is why central banks control is there for the stock market, as the government should do the same for RE.
You see the central bank of Canada governor came out and say price is unsustainable and unsafe. That's pretty powerful, that's not some random crook banking execs. I remember back in 2007, Janet Yellen came out and sounded the similar warning about US RE market.
I'm not calling for a crash, but realize we're reaching uncomfortable levels here and just because you bought in 5 years ago, and your paper value increase 2x, it does not mean it should stay that way. That's just your greed talking.
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