It's crazy to see homes still selling with an increase in value of 10% from a year ago and interest rates more than doubled.

Wonder what percentage of this demand is organic home owners vs. investors (including foreign investors).

There’s been massive capital movement across the globe. Money moving out of China and Russia in particular. And the gulf countries with a surplus of cash thanks to multiple years of expensive oil.

There might be something to that. Russia has become a bad place to invest money, while china’s real estate bubble looks to finally be popping. It could be that Russians and Chinese are accelerating on capital flight from their own countries due to current circumstances.

But it’s really just speculation. I haven’t noticed an influx of ore Chinese buyers into my market.

You can track political developments in China, Russia, and Saudi by the price of BTC and foreign housing (esp. places like Vancouver, Canada, or London, England).

Looked at this a bit ago and share the sentiment. Vancouver, BC was an excellent case study. House prices average: ~$1.1M. Loan rate average: ~5%. Month payment: $5900. Yearly: $71k. Avg Salary: $60k (before tax). After tax: Maybe $48k or less. Result: No normal worker can afford the loan, and the bank won't give you the loan. You pay everything you can each year, and you owe more. This isn't even with property taxes, utilities, other basic Maslow's heirarchy stuff taken out.

The problem with that is there still is very strong demand for new home buyers, many of whom just couldn't find anywhere to buy.

Yes prices are crazy but if demand is still not being met, then prices are meant to be crazy.