Here's an article from RIS Media regarding the rise in US recreational property purchases. As the article points out, this doesn't just mean Americans purchasing American properties, but also coming to Canada. http://rismedia.com/2013-04-16/the-vacation-home-makes-a-comeback/
Now, if we can get them to rediscover our North Island communities, maybe that mythical 'rich American' I keep hearing about will become a reality. The article mentions that many recreational properties are purchased for cash - that is certainly possible with condos from the $40,000s - $50,00s, houses from the $60,000s - $200,000s in our beautiful North Island communities.