[pneill]

This isn't widely talked about, but one of the ways that folks in China can get their money out of China is by buying foreign real estate. So if you're worried about protecting your assets from the CCP, this is a great way to do that.

But one of the side effects is that it drives up costs of real estate for citizens. It's hard for a regular person to win a bidding war with the Chinese millionaire/billionaire who is more concerned about protecting their assets than buying a home for a fair price.

Things got so bad in Vancouver, that they banned foreign buyers. See: https://www.immigration.ca/canada-foreign-buyer-ban-starting...

The net was buying moved from Vancouver to Seattle.