Billionaire: Chinese real estate is 'biggest bubble in history'

Who doesn't love a good "scare line"? Will this effect Canada and in what way? My belief is that, if you buy for life reasons (up or down-sizing, re-locating for proximity to work), you are not treating your home purchase purely as an "investment" and your are comfortable carrying the debt, a house purchase continues to make sense. Maybe this gives Chinese buyers the comfort to continue to buy in Vancouver?