2 ms·
Except that in the article it said that even the sub-million dollar homes were being pushed down by the same forces. Tax law changes, higher interest rates, an
by ChuckMcM 8y ago
Except that in the article it said that even the sub-million dollar homes were being pushed down by the same forces.
Tax law changes, higher interest rates, and currency controls on foreign buyers means it costs more in real wealth to buy a home, so the prices shrink to match. (or they don't shrink and the houses just stay on the market)
- projectramo 8y agoI thought the article said the sub-million market was pushed down by different forces. Below million market was pushed down by interest rates. The over million market was pushed down by capital controls on foreign buyers and tax law changes. This seems to support what the OP was saying.