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[OliverD]

Originally Posted by Keith P.

I'm not so sure that's totally true. Certainly when I was younger only the doctors, lawyers and people who worked in parts of the financial sector, or successful nouveau-riche entrepreneurs were able to afford high-end real estate in the south end. As their offspring grew up, the wealth was shared to allow them to live in the style to which they were accustomed when they in turn were married. Money breeds money very often, nothing new about that.

But we now have many more nouveau-riche people buying expensive property - young software bros, crypto winners, online entrepeneurs, you name it, along with come-from-aways who arrive here. I will not soon forget the convoy of supercars I saw pulled into a parking lot a year or two ago with nobody driving them appearing to be more than 30. Some were clearly from elsewhere judging by the voices I head talking to each other. The people who maintain and sell them those supercars clearly do very well. A million-dollar Ferrari or Lambo must come with a pretty good sales commission. Even if the money comes from China or wherever, that part pumps up the local economy and lets those locals build an affluent lifestyle for as long as it lasts.

Most of those cars are bought in Quebec or Ontario though, and often go back there for servicing as well.