[spfzero]

The prices are not being driven up by buyers with 5% down payments. They are being driven up by 100% cash buyers, people moving cash across national boundaries. Just look at the percentage of "all-cash" offers. That tells the whole story.

[renewiltord]

Considering that foreigners have to buy new build, how do you reconcile that with your view? What evidence would cause you to think it is not foreigners?

[spfzero]

I guess I didn't know that was a law? It's not in the U.S. Foreigners can buy anything they want.

But I don't think the distinction is meaningful, higher new build prices would drag up existing home prices.

[kwere]

They still heat the resale market