No matter how much you deny it. Prices are falling. The reason there is no sales is because buyers have dissappeared and few people are realistic enough to understand that to sell, they are going to have to reduce the asking price by about 25% now and a lot more by spring. The maket for property is gone and might not come back for years.Lots of new immigants will push up rental prices significantly but that will not boost sales while the maket is dropping which might take a while. Immigrants will just sit on the sidelines like everyone else and wait till a bottom is well established.
You cant justify $1,000,000 house or condo price by rental income.
Value should be about 10 times rental income so rent on a $ 1 miilion dollar property should be about $ 100,000 per year. Rents have a long way to rise or values a long way to fall

Oh cool. Your anecdotal evidence without any verifiable facts is much more important than the real estate industry’s actual numbers. To the moon!

Now there are similar houses on the market near me in the $2.3-$2.4M range, sitting, unsold, week after week. No prices are coming down but nothing is moving either.