patrick.net

Owneroccupier Says: March 29th, 2006 at 10:25 pm
I am only too familiar with the type you are talking about in Vancouver BC. The entire circle of my parents’ friends supplanted themselves to Vancouver and Sydney when the news broke out that Hong Kong were to be returned to China.

Interestingly, that probably helped to feed a local bubble in Sydney - Melbourne tended not to go up at the same time. Likewise, there was a sudden spike in Sydney R/E straight after the '87 stockmarket collapse - but not elsewhere. Then there's a spreading-out effect to other states shortly after simply because investors sought out of state investments when Sydney prices got too high... But it's hard to prove this empirically in amongst all the realtor hype, and other postulated drivers...