There is no manufacturing in the rust belt compared to decades ago, because said manufacturing is now done in Mexico and China.

Put yourself in the shoes of someone who has just made a bunch of money, whether you're living in China, or Russia, or Brazil or even India.

I have been using imported cabinets from China at $100 a box.  

Not really worth it, 7 years is a long time, unless you get the solars at 10-13k (selling it at 25-35k, is absolutely absurd) installed, which is really what it is worth, since these panels came from China and it takes only 3 guys to install all of it in 3 days.

In some areas, such as Australia, China, New Zealand, the United Kingdom, and a few U.S. states, new suburbs are routinely annexed by adjacent cities.

Also condo prices have appreciated 700% in China and I believe that any time now the Chinese economy will be hit very hard. 

@Chris Winterhalter I'm not a fan of deflation, as the article points out we in the US have not seen deflation since 1930.I'm also not a fan of QE, though central bankers in Europe, China, and Japan as well as US still are strong believers. 

If say, all of the investors in China really wanted apartment buildings in Seattle regardless of their investment value that might skew the cap rate way down.

That's primarily what's left after manufacturing move to China and the service industry move to Asia.

But if you see in many Asian countries and also other western developed countries, an 0.67-1.0 cap rate is normal in places like Singapore, Hongkong, China or even Vietnam.