That has been the case, as we know, since the recession of the 1990s corrected, i.e., when prices began to increase again in 1995. By about 2000-01, these increases in real estate in general continued. Speculators came into the market in a very, very big way, and my position is that they now dominate the market because they buy substantially all of the new-build condominium units, and subsequently there was what I refer to as a "buying frenzy". Of course, they buy it with the expectation of making a capital gain by selling that contract, by flipping that.
On November 5th, 2024. See this statement in context.