I've never understood why people assume that sort of investment is going to be going to the housing market in particular, especially when it goes along with complaints of absentee foreign landlords and unoccupied housing. Surely even if you're fleeing instability you still want to make the best investments you can, and refusing to rent property or investing in already overactive markets rather than somewhere else is just leaving money on the ground. I could definitely be wrong, but I suspect many people assuming otherwise have neither data nor theory to back that up.