My hunch is that this is true in the US too. There are a few cities where I think foreign buyers may actually be buying condos and leaving them vacant (namely t

My hunch is that this is true in the US too. There are a few cities where I think foreign buyers may actually be buying condos and leaving them vacant (namely the nice parts of Manhattan and Miami) but it’s a very small portion of the total housing supply. I think we want to pretend foreign buyers are the problem because it’s much easier to understand and try to stop than wealth/income inequality, access to credit, and low interest rates.