There seems to be complete ignorance around the term "foreign buyer".  The implied meaning is that the buyer has no immigration status and is buying from afar for speculation purposes.  These buyers may indeed be only 5% of the market.  But that is disengenuous.  It is undeniable that Greater Vancouver's cultural profile has become a mono one of mostly Asian citizens who are Permanent residents or on student visas. In a sense they are visibly foreign although they have immigration status. It is these folks who have hugely affected Vancouver prices. They buy houses-lots of them and condos and Richmond farmland....