Foreign buyers to blame for plummeting home prices

Channel:
Canada Mike Martins
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Published on ● Video Link: https://www.youtube.com/watch?v=j3MhnFy9hhQ


Duration: 15:49
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"All of those buyers have kind of hit the sidelines and without those buyers, prices can only go one way and that's down."

The property in question was first listed for $2.7 million. It then dropped to $2.4 million and then $2.2 million.

Hasman said the home finally sold a couple of weeks ago for less than $2 million—$612,000 less than the owner paid for it 20 months ago.

A different home located nearby is currently listed at $2.5 million. In June 2016, it sold for $4 million.


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