I live in a town of 10,000, and it’s the biggest “metro” area for 150KM. Yet still: - houses are being sold as soon as they go up - foreign investors are buy

I live in a town of 10,000, and it’s the biggest “metro” area for 150KM. Yet still: - houses are being sold as soon as they go up - foreign investors are buying sight-unseen (I even know the direct story of a Caribbean buyer who purchased a run-down house sight-unseen only to have it immediately shuttered by the town. They had given up on getting money out of the previous owner, but it was not livable even at the time of purchase) - people from other parts of the country and other parts of the world are flying in then taking taxis to go see empty properties - people are successfully flipping houses they buy for >500k I can’t imagine that the story is any better in places where “the market is hot”. Source: Conversations with taxi drivers who don’t talk to each other, constant exploration on foot and in vehicles, conversations with neighbours of new owners, conversations with municipal employees, and watching town council meetings