4 ms·
the influx of foreign buyers (particularly money coming from China that is not that price sensitive) I thought this was a major factor in the increase in ho
by myth_buster 11y ago
the influx of foreign buyers (particularly money coming
from China that is not that price sensitive)
I thought this was a major factor in the increase in home prices. Anecdotal evidences of "tourists" coming in to buy property as an investment, instances of people buying homes without even visiting and bidding wars with homes ending up in the hands of people paying premium and in cash. This phenomenon has also been reported in other major cities like London, Toronto, Vancouver.
- nerfhammer 11y agoIf there wasn't an extreme housing shortage and expectations for it to continue long-term then such investors wouldn't be interested in the first place. It's a symptom, and probably not much of a cause.
- myth_buster 11y agoWhat I meant was that the dynamics have changed. A local buying house is different from a non-resident buying the property solely as an investment. It gives off a different price signal.