Again I am refering to recent purchases and why some areas refuse to go down in price and remain steady. This is mostly due to foreign money coming in and buying. They were not responsible for the run up. This run up was caused by the dumb greedy American looking to flip. What is sustaining new home sales is foreign money. The option of selling and upgrading while still possible is not happening as much as before. The people buying have money, cash, moola and are buying the house out right and really don’t care or worry about the cost. They assume because it is pricey that the neighbourhood must be nice. LOL. There are some parts or Rancho PQ that are in the $700’s and I felt like I was in an IOWA trailer park driving thorough.
