Honestly it can also be partially attributed to some people cashing in their real property in the Northeast and reinvesting in less expensive real property in other regions.
If a Northeast homeowner can sell his/her home for $500,000-$1,000,000+, they can sure have a nice pile of cash to buy a spread in many other parts of the country with plenty of $$$$$ left over.
Absolutely! And guess who is buying the real estate? Foreigners. Ever read the luxury homes mags? Who is buying this real estate? The Donald?