Hi, nelson.  

You may be right about "foreign money is now moving on to our smaller cities..."  But a lot of other people are, too.  

1. Frugal, middle-class immigrants.  BC's immigrant population is declining.  The newcomers are moving to the more affordable small-town prairies.

2. Canadian-born caucasian homeowners cashing out from the Lower Mainland are taking their new wealth and moving to places such as Abbotsford, Chilliwack, and--yeah--Kelowna, B.C. In the east end of the Fraser Valley--wow, the home construction on the slopes just outside of Hope is unreal--you rarely see an Asian face.