[mc32]

This a problem in first tier cities even in the US. It's not only the IPO crowd driving up prices in SF, NYC, etc. But these foreign investors --the IPO people get the flack from displaced communities, but foreign investment contributes its own good share of this new housing shortage... It's begun to affect second tier cities like Minneapolis, Austin, etc.

[mikecuesta]

Try living in a city like Miami where a staggering amount of condos/property are primarily treated as a store of value by foreigners.

[mc32]

Sorry, but I agree, this is being felt by all first tier cities, like Miami, as well as second tier metros.