While foreign purchases do make up some part of the high end purchases, I don’t think it’s the majority. The bulk of the purchases still appear to be domestic.
Maybe it’s just the economy is doing better for some. With the exception of enginerd salaried employees, maybe small biz, doctors, lawyers, and other professions have been seeing better times. Maybe people’s investments have been going through the roof, and maybe those same people psychologically feel more comfortable buying now. Maybe folks are trading up because their current property has gone up, rates are low, and for them, there source(s) of income are more or less stable…
I think during the past few years, there’s been so much pessimism about the economy, but there appears to be folks that emerged from all this stronger. These tiny condos I bought are all cute and such. But hardly something that really is exploding the bank. My problem was I played it way too safe. And I’m sure there are plenty of people that did well just by being less fearful.
