There are a lot of vacant homes, but they’re not on the market. Absentee owners. It’s offshore money, largely China, that is driving insane residential real estate prices on the west coast, not any actual domestic supply and demand. When China goes boom economically, west coast residential real estate will too.
“There are a lot of vacant homes, but they’re not on the market. Absentee owners. It’s offshore money, largely China, that is driving insane residential real estate prices on the west coast, not any actual domestic supply and demand. When China goes boom economically, west coast residential real estate will too.”
Insane prices compared to what? Tokyo, London, NYC ??