Look at all other major North American Cities like Montreal, Quebec City, Ottawa, Dallas, Chicago...etc. These are all metropolitan cities with thriving economies and many of these cities have the same "land-lock, limited space" RE arguments.

All of these cities have diversified, multi-faceted economic structures and rich multi-cultural demographics and ethnic-focused enclaves. All of these cities enjoyed the same macro-economic factors such as the low interest rates, (arguably) stagnate wages...etc.

And yet NONE of these cities have 40% RE price increase in the past 15 months...... What could possibly be the difference between these cities and Vancouver?

On the other hand, CMHC recently disengaged itself from high-risk, foreign-oriented loan portfolios so it can pretend to have a moral high ground.... Imagine our (fake) surprise to see CMHC taking the latest turn to play the race card....