It doesn't really matter how many homes are sold to resident or non-resident in the context of a housing crash. Proportionally, resident make up the vast majority of purchases as owner occupiers and investors.
Non-residents investing in properties here will also cut their losses and run. If you are talking about Asian investors (you should be even more worried). Property bubbles bursted many times in the last few decades in hong kong, singapore, KL and Taiwan. Of all people the asians are the most jumpy. Ever tried catching a bus in Asia ??
No different to the dude with 2-3 loans negatively gearing to the hilt (after seeing the housing bloodbath tabloid stories on TT & CA with Steve Keen rubbing it in real nice).
