BUSM 1100: Understanding the Dynamics of Vancouver's Housing Market
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AI Summary
This report investigates the reasons behind the high housing prices in Vancouver, Canada, focusing on factors like foreign investment, taxation policies, supply shortages, and land use. It highlights the disparity between average family income and home prices, comparing Vancouver to other expensive markets. The report discusses the impact of foreign buyers, particularly from China, and the role of immigration and offshore investment in decoupling housing prices from the local job market. It also touches upon issues like money laundering and regulatory challenges within the real estate sector. The conclusion emphasizes the need for expanded residential zoning and addresses the role of foreign investment in driving up housing costs, noting the challenges faced by local residents in affording homes in Vancouver. Desklib offers similar resources for students.
Running Head: WHY PRICES OF HOUSING IN VANCOUVER SO CRAZY?
WHY PRICES OF HOUSING IN VANCOUVER SO CRAZY?
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WHY PRICES OF HOUSING IN VANCOUVER SO CRAZY?
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1WHY PRICES OF HOUSING IN VANCOUVER SO CRAZY?
Overview
Similar to many other cities all over the world, Vancouver is contending with
gruelling cost of housing that have broken out huge portion of inhabitants and are
increasingly affecting misery amongst the established adults who are not able to afford the
rent. The main reason for this is the growing attraction of Vancouver, amongst not only the
Canada’s but also the city has also developed an attraction for overseas purchaser from
China. There are several factors that impacting the cost of housing in Vancouver, such as
influence of the foreign buyers, program of taxation, lack of supply and inappropriate area of
land. The issues here is that it has been found that amongst 50 most crowded city located in
North part of America and Vancouver, which is huge the most high-priced marketplace of
housing. Therefore, the reading emphasises on the argument about why Vancouver housing is
so unaffordable in the market. Based on this the study aims to find out the critical issue
related to the unaffordable price related to Vancouver housing and its impact on Canadian
Business.
Research and Analysis
Research on this context of issue found that Vancouver’s average family income is
almost $63,944 and the average sale of home price is nearly more than $1.1million.
Therefore, these produces a multiple average of almost 17.3. In this context, the report shows
that the households in San Francisco are comparatively more pricy than the housing cost in
Vancouver, which drives up the index of affordability. On the contrary, Canada is considered
to be North America’s one of the most luxurious marketplace with a cost surrounded average
of 7.51. In this, the average sale price of one is almost $485,680, whereas the average family
1 Saltman, Jennifer. 2018. "Report Calls Vancouver Most Unaffordable Real Estate Market In North America".
Vancouver Sun. https://vancouversun.com/news/local-news/report-calls-vancouver-most-unaffordable-real-
estate-market-in-north-america
Overview
Similar to many other cities all over the world, Vancouver is contending with
gruelling cost of housing that have broken out huge portion of inhabitants and are
increasingly affecting misery amongst the established adults who are not able to afford the
rent. The main reason for this is the growing attraction of Vancouver, amongst not only the
Canada’s but also the city has also developed an attraction for overseas purchaser from
China. There are several factors that impacting the cost of housing in Vancouver, such as
influence of the foreign buyers, program of taxation, lack of supply and inappropriate area of
land. The issues here is that it has been found that amongst 50 most crowded city located in
North part of America and Vancouver, which is huge the most high-priced marketplace of
housing. Therefore, the reading emphasises on the argument about why Vancouver housing is
so unaffordable in the market. Based on this the study aims to find out the critical issue
related to the unaffordable price related to Vancouver housing and its impact on Canadian
Business.
Research and Analysis
Research on this context of issue found that Vancouver’s average family income is
almost $63,944 and the average sale of home price is nearly more than $1.1million.
Therefore, these produces a multiple average of almost 17.3. In this context, the report shows
that the households in San Francisco are comparatively more pricy than the housing cost in
Vancouver, which drives up the index of affordability. On the contrary, Canada is considered
to be North America’s one of the most luxurious marketplace with a cost surrounded average
of 7.51. In this, the average sale price of one is almost $485,680, whereas the average family
1 Saltman, Jennifer. 2018. "Report Calls Vancouver Most Unaffordable Real Estate Market In North America".
Vancouver Sun. https://vancouversun.com/news/local-news/report-calls-vancouver-most-unaffordable-real-
estate-market-in-north-america
2WHY PRICES OF HOUSING IN VANCOUVER SO CRAZY?
expenditure is almost $64.752. That indicates that Vancouver’s high prices on housing is
quite reasonable. According to 2017 demographic international housing Affordability
survey, Vancouver is the third most pricy city to stay2. Moreover, it has been found in this
context that the condition of paying for the houses is declining quicker in Vancouver in
comparison to other foremost location despite the fact that the location has the worst housing
risk of bubble. However, several location in Canada and United states have tried to exercise
prevention steps to increase tenant protection, housing subsidies and several steps has also
been taken to allow the developer to build higher and faster so that housing options can be
done online. It has been stated that the real estate and housing market in Vancouver is
completely messed up due to the attracted attention. Consisting of media reports, provincial
scrutiny reports, self-regulatory board activities, Vancouver has a considered as Canada’s one
of the most expensive real estate market.
The major reason for this pricy housing condition is foreign buyers. The truth here is
that Vancouver housing has high felt the influence of foreign monetary income. To be
specific, the increased price of housing is to achieve money from the foreign residents. The
fact is that most of the money comes from the Mainland China. It has been found that in
every one of the metropolises the marketplace is highly compelled by a little rather than the
proprietor and occupiers3. Therefore, it is not just the new immigrants, but also the investors
who makes the offshore investment. Through analysis and various study it has been found
2 Dougherty, Conor. 2018. "In Vancouver, A Housing Frenzy That Even Owners Want To End". Nytimes.Com.
https://www.nytimes.com/2018/06/02/business/economy/vancouver-housing.html.
3 Pearson, Natalie Obiko. 2018. "It’S Not Just Sky-High Home Prices That Make Vancouver So Unaffordable
— It’S Paltry Wages, Too". Financial Post. https://business.financialpost.com/real-estate/its-not-just-sky-high-
home-prices-that-make-vancouver-so-unaffordable-its-paltry-wages-too.
expenditure is almost $64.752. That indicates that Vancouver’s high prices on housing is
quite reasonable. According to 2017 demographic international housing Affordability
survey, Vancouver is the third most pricy city to stay2. Moreover, it has been found in this
context that the condition of paying for the houses is declining quicker in Vancouver in
comparison to other foremost location despite the fact that the location has the worst housing
risk of bubble. However, several location in Canada and United states have tried to exercise
prevention steps to increase tenant protection, housing subsidies and several steps has also
been taken to allow the developer to build higher and faster so that housing options can be
done online. It has been stated that the real estate and housing market in Vancouver is
completely messed up due to the attracted attention. Consisting of media reports, provincial
scrutiny reports, self-regulatory board activities, Vancouver has a considered as Canada’s one
of the most expensive real estate market.
The major reason for this pricy housing condition is foreign buyers. The truth here is
that Vancouver housing has high felt the influence of foreign monetary income. To be
specific, the increased price of housing is to achieve money from the foreign residents. The
fact is that most of the money comes from the Mainland China. It has been found that in
every one of the metropolises the marketplace is highly compelled by a little rather than the
proprietor and occupiers3. Therefore, it is not just the new immigrants, but also the investors
who makes the offshore investment. Through analysis and various study it has been found
2 Dougherty, Conor. 2018. "In Vancouver, A Housing Frenzy That Even Owners Want To End". Nytimes.Com.
https://www.nytimes.com/2018/06/02/business/economy/vancouver-housing.html.
3 Pearson, Natalie Obiko. 2018. "It’S Not Just Sky-High Home Prices That Make Vancouver So Unaffordable
— It’S Paltry Wages, Too". Financial Post. https://business.financialpost.com/real-estate/its-not-just-sky-high-
home-prices-that-make-vancouver-so-unaffordable-its-paltry-wages-too.
3WHY PRICES OF HOUSING IN VANCOUVER SO CRAZY?
that during the previous 25 years, there has been almost 1-10 relationship in between
Vancouver’s increase in housing process and the growth in the international immigration and
offshore investment. Therefore, the growing housing prices is that the immigrants come in
Vancouver with huge amount of wealth and consistently earn high incomes outside Canada.
Therefore. This incorporation and accessibility to increased money and high investment in
the Vancouver housing property resulted in the decoupling of hosing from the regional
employment market participation4. The final Map shows that 2016 housing and prices. These
shows that the number of houses that are sold in the year2016 s more than $1million that has
increased in a dramatic way5. On the contrary, a current globe and Mail investigation
reported that the representatives of Vancouver housing, who were known for doing wrong
things confronted high penalties and suspension which were nothing more of a anecdote in
comparison to the heavy commission that have been earned during housing prices
transactions6. In this context, the global report highlighted that over 100 current disciplinary
proceedings, the penalty amount has been seen at $4,8507. Therefore, it is quite evident that
4 Geller, Michael. 2018. "Why Housing In Vancouver Is So Expensive". Vancouver Courier.
https://www.vancourier.com/opinion/why-housing-in-vancouver-is-so-expensive-1.22283763.
5 Azpiri, Jon. 2018. "Vancouver Among World’S Most Expensive Real Estate Market: Survey". Global News.
https://globalnews.ca/news/3773541/vancouver-among-worlds-most-expensive-real-estate-market-survey/.
6 Pearson, Natalie Obiko. 2018. "‘An Absolute Gong Show’: Move Over Vancouver, Canada’S Craziest
Housing Market Is Now In Whistler". Financial Post. https://business.financialpost.com/real-estate/whistler-
now-tops-vancouver-as-canadas-craziest-housing-market.
7 King, Romana. 2018. "8 Reasons Why Vancouver Real Estate Prices Are So Crazy". Moneysense.
https://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/.
that during the previous 25 years, there has been almost 1-10 relationship in between
Vancouver’s increase in housing process and the growth in the international immigration and
offshore investment. Therefore, the growing housing prices is that the immigrants come in
Vancouver with huge amount of wealth and consistently earn high incomes outside Canada.
Therefore. This incorporation and accessibility to increased money and high investment in
the Vancouver housing property resulted in the decoupling of hosing from the regional
employment market participation4. The final Map shows that 2016 housing and prices. These
shows that the number of houses that are sold in the year2016 s more than $1million that has
increased in a dramatic way5. On the contrary, a current globe and Mail investigation
reported that the representatives of Vancouver housing, who were known for doing wrong
things confronted high penalties and suspension which were nothing more of a anecdote in
comparison to the heavy commission that have been earned during housing prices
transactions6. In this context, the global report highlighted that over 100 current disciplinary
proceedings, the penalty amount has been seen at $4,8507. Therefore, it is quite evident that
4 Geller, Michael. 2018. "Why Housing In Vancouver Is So Expensive". Vancouver Courier.
https://www.vancourier.com/opinion/why-housing-in-vancouver-is-so-expensive-1.22283763.
5 Azpiri, Jon. 2018. "Vancouver Among World’S Most Expensive Real Estate Market: Survey". Global News.
https://globalnews.ca/news/3773541/vancouver-among-worlds-most-expensive-real-estate-market-survey/.
6 Pearson, Natalie Obiko. 2018. "‘An Absolute Gong Show’: Move Over Vancouver, Canada’S Craziest
Housing Market Is Now In Whistler". Financial Post. https://business.financialpost.com/real-estate/whistler-
now-tops-vancouver-as-canadas-craziest-housing-market.
7 King, Romana. 2018. "8 Reasons Why Vancouver Real Estate Prices Are So Crazy". Moneysense.
https://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/.
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4WHY PRICES OF HOUSING IN VANCOUVER SO CRAZY?
the increasing process of housing in Vancouver is due to the effective regulation where it has
seen that the brokerage was home to almost 445 real estate agents. Moreover, another,
contributing factors is the smoothness of technology that has reduced the distance that used to
the regional economic decision. In the current period, foreign investors does not even need to
step outside Canada to snap up some of the most exclusive real estate in the lower mainland
location8. Through technology, the information is made accessible to only one segment of the
open market. This has increased the concern that foreign investors in Metro Vancouver’s hot
real estate market.
Another major problem, found is that there is an increasing issue of money
laundering, fraudulent activities and evasion of tax. In this aspect, the housing action for local
taxpayers, and group of advocacy with an intention to develop politicians responsible for the
real estate affordability said that the houses have turned in to opaque cash balance where
funds collected from offshore location can find nice places where money can be hidden9. The
main problem in this context is that over the period of 12 months, several real estate
brokerage have been caught for money laundering issues. These has been reported by the
financial transaction and reports.
Therefore, the price of purchasing home in Vancouver touched the peak according to
the report in the first half of the year. It has been observed that, Vancouver’s local residents
will be needing almost 88% of the household income for purchasing house, while the
8 Tencer, Daniel. 2018. "Vancouver’S Housing Market Is Starting To Look Like A Disaster". Huffpost Canada.
https://www.huffingtonpost.ca/2018/09/05/vancouver-real-estate-correction_a_23518030/.
9 Todd, Douglas. 2018. "Immigration Has "Undoubtedly' Escalated Housing Prices In Vancouver, Toronto, Says
Study". Vancouver Sun. https://vancouversun.com/opinion/columnists/douglas-todd-canadas-immigration-
targets-a-form-of-housing-policy-says-study.
the increasing process of housing in Vancouver is due to the effective regulation where it has
seen that the brokerage was home to almost 445 real estate agents. Moreover, another,
contributing factors is the smoothness of technology that has reduced the distance that used to
the regional economic decision. In the current period, foreign investors does not even need to
step outside Canada to snap up some of the most exclusive real estate in the lower mainland
location8. Through technology, the information is made accessible to only one segment of the
open market. This has increased the concern that foreign investors in Metro Vancouver’s hot
real estate market.
Another major problem, found is that there is an increasing issue of money
laundering, fraudulent activities and evasion of tax. In this aspect, the housing action for local
taxpayers, and group of advocacy with an intention to develop politicians responsible for the
real estate affordability said that the houses have turned in to opaque cash balance where
funds collected from offshore location can find nice places where money can be hidden9. The
main problem in this context is that over the period of 12 months, several real estate
brokerage have been caught for money laundering issues. These has been reported by the
financial transaction and reports.
Therefore, the price of purchasing home in Vancouver touched the peak according to
the report in the first half of the year. It has been observed that, Vancouver’s local residents
will be needing almost 88% of the household income for purchasing house, while the
8 Tencer, Daniel. 2018. "Vancouver’S Housing Market Is Starting To Look Like A Disaster". Huffpost Canada.
https://www.huffingtonpost.ca/2018/09/05/vancouver-real-estate-correction_a_23518030/.
9 Todd, Douglas. 2018. "Immigration Has "Undoubtedly' Escalated Housing Prices In Vancouver, Toronto, Says
Study". Vancouver Sun. https://vancouversun.com/opinion/columnists/douglas-todd-canadas-immigration-
targets-a-form-of-housing-policy-says-study.
5WHY PRICES OF HOUSING IN VANCOUVER SO CRAZY?
residents of Toronto will be needed more than 74% of the income to cover the expenses of
housing10. Affordability is a major issue in different large markets in Canada, as the condition
is at a level of crisis in Vancouver that poses high challenge for Toronto location buyers in
spite of the improvement in the past two quarters. It is due to increasing price of Vancouver
real estate housing, that is reducing the housing prices in Canada. People living in Canada are
not able to afford the hosing in Vancouver due to its high prices. In this context, in spite of
range of measures launched by the administration over the period of previous years in an
effort to reduce the possessions and costs of housing in Vancouver. The standard prices for a
home-based in location increasing to an amount of $1, 094, 00 and the expenses in Canada
fell down to 35% according the real estate board11. In this context, the economists of the
capital market stated that along with the measures coming from the regulators and
government such as high rate of interest that will help in slowing down the economic for a
short tem period and will help in stabilising the process.
However, there is no- uncertainty, that Canada’s increasing rate of settlement have a
high influence on the affordability of the real estate residence in Vancouver, Toronto as it has
been found from a new study. In this, the leading settlement policy is also a method of
housing program. It has been found that most of immigrates show an increased amount of
10 Lee-Young, Joanne. 2018. "Some Realtors Believe Major Price Correction Underway In Metro Vancouver".
Vancouver Sun. https://vancouversun.com/business/local-business/some-realtors-believe-major-price-
correction-underway-in-metro-housing-market.
11 Rajeshni Naidu-Ghelani. 2018. "Housing Affordability At 'Crisis Level' In Canada's Most Expensive Market,
Say Economists | CBC News". CBC. https://www.cbc.ca/news/business/housing-affordability-prices-
1.4731713.
residents of Toronto will be needed more than 74% of the income to cover the expenses of
housing10. Affordability is a major issue in different large markets in Canada, as the condition
is at a level of crisis in Vancouver that poses high challenge for Toronto location buyers in
spite of the improvement in the past two quarters. It is due to increasing price of Vancouver
real estate housing, that is reducing the housing prices in Canada. People living in Canada are
not able to afford the hosing in Vancouver due to its high prices. In this context, in spite of
range of measures launched by the administration over the period of previous years in an
effort to reduce the possessions and costs of housing in Vancouver. The standard prices for a
home-based in location increasing to an amount of $1, 094, 00 and the expenses in Canada
fell down to 35% according the real estate board11. In this context, the economists of the
capital market stated that along with the measures coming from the regulators and
government such as high rate of interest that will help in slowing down the economic for a
short tem period and will help in stabilising the process.
However, there is no- uncertainty, that Canada’s increasing rate of settlement have a
high influence on the affordability of the real estate residence in Vancouver, Toronto as it has
been found from a new study. In this, the leading settlement policy is also a method of
housing program. It has been found that most of immigrates show an increased amount of
10 Lee-Young, Joanne. 2018. "Some Realtors Believe Major Price Correction Underway In Metro Vancouver".
Vancouver Sun. https://vancouversun.com/business/local-business/some-realtors-believe-major-price-
correction-underway-in-metro-housing-market.
11 Rajeshni Naidu-Ghelani. 2018. "Housing Affordability At 'Crisis Level' In Canada's Most Expensive Market,
Say Economists | CBC News". CBC. https://www.cbc.ca/news/business/housing-affordability-prices-
1.4731713.
6WHY PRICES OF HOUSING IN VANCOUVER SO CRAZY?
determination than Canadian born citizens to purchase house in Canada cities12. Therefore,
the elevated ownership of home is more amongst cultural Chinese settlers in the pricy cities
such as Vancouver. In this regards, the level of home ownership angst the individual from the
Chinese origin is comparatively high for the new emerging people. The discovery is that most
of the Chinese and other foreign immigrants are able to afford buying of houses within a
short span of time, after arriving in Canada. Current Chinese settlers to Vancouver have an
authorisation of household possession level of almost 73%13. Therefore, with the reported rate
of settlement of persons from China, Hong Kong and Taiwan to Vancouver, it is evident that
this collection of immigrants is having an influence on the city household marketplace highly.
Conclusion
From the above study, it evident that Vancouver, wants to grow their expenses. It has
been found that the area of the residential zoning is required to be expanded for
accommodating millions of immigrant and other people who will be settling in Vancouver by
the year 20141. The issue is that growing of the housing is more in the lower mainland ARES
with a little amount of people who are raising their home in the other area of Vancouver.
However, the city has huge lack of supply as the city is overbuilding by almost 2000 units in
each 5 years for making increased profit in the real estate markets. Therefore, it can be
12 Dyck, Darryl. 2018. "Vancouver Housing Sales Slump As Market Braces For Tax Impact". The Globe And
Mail. https://www.theglobeandmail.com/real-estate/vancouver/vancouver-housing-sales-slump-as-market-
braces-for-tax-impact/article38195805/.
13 Pittis, Don. 2018. "7 Reasons Why It's Hard To Know If Your House Will Lose Value: Don Pittis | CBC
News". CBC. https://www.cbc.ca/news/business/canada-real-estate-home-prices-1.4613215.
determination than Canadian born citizens to purchase house in Canada cities12. Therefore,
the elevated ownership of home is more amongst cultural Chinese settlers in the pricy cities
such as Vancouver. In this regards, the level of home ownership angst the individual from the
Chinese origin is comparatively high for the new emerging people. The discovery is that most
of the Chinese and other foreign immigrants are able to afford buying of houses within a
short span of time, after arriving in Canada. Current Chinese settlers to Vancouver have an
authorisation of household possession level of almost 73%13. Therefore, with the reported rate
of settlement of persons from China, Hong Kong and Taiwan to Vancouver, it is evident that
this collection of immigrants is having an influence on the city household marketplace highly.
Conclusion
From the above study, it evident that Vancouver, wants to grow their expenses. It has
been found that the area of the residential zoning is required to be expanded for
accommodating millions of immigrant and other people who will be settling in Vancouver by
the year 20141. The issue is that growing of the housing is more in the lower mainland ARES
with a little amount of people who are raising their home in the other area of Vancouver.
However, the city has huge lack of supply as the city is overbuilding by almost 2000 units in
each 5 years for making increased profit in the real estate markets. Therefore, it can be
12 Dyck, Darryl. 2018. "Vancouver Housing Sales Slump As Market Braces For Tax Impact". The Globe And
Mail. https://www.theglobeandmail.com/real-estate/vancouver/vancouver-housing-sales-slump-as-market-
braces-for-tax-impact/article38195805/.
13 Pittis, Don. 2018. "7 Reasons Why It's Hard To Know If Your House Will Lose Value: Don Pittis | CBC
News". CBC. https://www.cbc.ca/news/business/canada-real-estate-home-prices-1.4613215.
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7WHY PRICES OF HOUSING IN VANCOUVER SO CRAZY?
concluded is the increasing prices of houses is due to the foreign investment and Chinese
immigrants who are increasing visiting Vancouver for settling here.
concluded is the increasing prices of houses is due to the foreign investment and Chinese
immigrants who are increasing visiting Vancouver for settling here.
8WHY PRICES OF HOUSING IN VANCOUVER SO CRAZY?
Bibliography
Saltman, Jennifer. 2018. "Report Calls Vancouver Most Unaffordable Real Estate Market In
North America". Vancouver Sun. https://vancouversun.com/news/local-news/report-calls-
vancouver-most-unaffordable-real-estate-market-in-north-america.
Dougherty, Conor. 2018. "In Vancouver, A Housing Frenzy That Even Owners Want To
End". Nytimes.Com. https://www.nytimes.com/2018/06/02/business/economy/vancouver-
housing.html.
Pearson, Natalie Obiko. 2018. "It’S Not Just Sky-High Home Prices That Make Vancouver
So Unaffordable — It’S Paltry Wages, Too". Financial Post.
https://business.financialpost.com/real-estate/its-not-just-sky-high-home-prices-that-make-
vancouver-so-unaffordable-its-paltry-wages-too.
Geller, Michael. 2018. "Why Housing In Vancouver Is So Expensive". Vancouver Courier.
https://www.vancourier.com/opinion/why-housing-in-vancouver-is-so-expensive-
1.22283763.
Pearson, Natalie Obiko. 2018. "‘An Absolute Gong Show’: Move Over Vancouver, Canada’S
Craziest Housing Market Is Now In Whistler". Financial Post.
https://business.financialpost.com/real-estate/whistler-now-tops-vancouver-as-canadas-
craziest-housing-market.
King, Romana. 2018. "8 Reasons Why Vancouver Real Estate Prices Are So Crazy".
Moneysense. https://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-
vancouvers-real-estate-prices/.
Todd, Douglas. 2018. "Immigration Has "Undoubtedly' Escalated Housing Prices In
Vancouver, Toronto, Says Study". Vancouver Sun.
Bibliography
Saltman, Jennifer. 2018. "Report Calls Vancouver Most Unaffordable Real Estate Market In
North America". Vancouver Sun. https://vancouversun.com/news/local-news/report-calls-
vancouver-most-unaffordable-real-estate-market-in-north-america.
Dougherty, Conor. 2018. "In Vancouver, A Housing Frenzy That Even Owners Want To
End". Nytimes.Com. https://www.nytimes.com/2018/06/02/business/economy/vancouver-
housing.html.
Pearson, Natalie Obiko. 2018. "It’S Not Just Sky-High Home Prices That Make Vancouver
So Unaffordable — It’S Paltry Wages, Too". Financial Post.
https://business.financialpost.com/real-estate/its-not-just-sky-high-home-prices-that-make-
vancouver-so-unaffordable-its-paltry-wages-too.
Geller, Michael. 2018. "Why Housing In Vancouver Is So Expensive". Vancouver Courier.
https://www.vancourier.com/opinion/why-housing-in-vancouver-is-so-expensive-
1.22283763.
Pearson, Natalie Obiko. 2018. "‘An Absolute Gong Show’: Move Over Vancouver, Canada’S
Craziest Housing Market Is Now In Whistler". Financial Post.
https://business.financialpost.com/real-estate/whistler-now-tops-vancouver-as-canadas-
craziest-housing-market.
King, Romana. 2018. "8 Reasons Why Vancouver Real Estate Prices Are So Crazy".
Moneysense. https://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-
vancouvers-real-estate-prices/.
Todd, Douglas. 2018. "Immigration Has "Undoubtedly' Escalated Housing Prices In
Vancouver, Toronto, Says Study". Vancouver Sun.
9WHY PRICES OF HOUSING IN VANCOUVER SO CRAZY?
https://vancouversun.com/opinion/columnists/douglas-todd-canadas-immigration-targets-a-
form-of-housing-policy-says-study.
Rajeshni Naidu-Ghelani. 2018. "Housing Affordability At 'Crisis Level' In Canada's Most
Expensive Market, Say Economists | CBC News". CBC.
https://www.cbc.ca/news/business/housing-affordability-prices-1.4731713.
Pittis, Don. 2018. "7 Reasons Why It's Hard To Know If Your House Will Lose Value: Don
Pittis | CBC News". CBC. https://www.cbc.ca/news/business/canada-real-estate-home-prices-
1.4613215.
Dyck, Darryl. 2018. "Vancouver Housing Sales Slump As Market Braces For Tax Impact".
The Globe And Mail. https://www.theglobeandmail.com/real-estate/vancouver/vancouver-
housing-sales-slump-as-market-braces-for-tax-impact/article38195805/.
Lee-Young, Joanne. 2018. "Some Realtors Believe Major Price Correction Underway In
Metro Vancouver". Vancouver Sun. https://vancouversun.com/business/local-business/some-
realtors-believe-major-price-correction-underway-in-metro-housing-market.
Tencer, Daniel. 2018. "Vancouver’S Housing Market Is Starting To Look Like A Disaster".
Huffpost Canada. https://www.huffingtonpost.ca/2018/09/05/vancouver-real-estate-
correction_a_23518030/.
Azpiri, Jon. 2018. "Vancouver Among World’S Most Expensive Real Estate Market:
Survey". Global News. https://globalnews.ca/news/3773541/vancouver-among-worlds-most-
expensive-real-estate-market-survey/.
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