The CMHC has been sounding the over-valued warning bells on metro Vancouver for years. So now it has added Victoria.

No surprise that price/demand contagion has spread,  since the BC liberals refused to extend the 15% foreign buyers tax outside of metro Vancouver. And also considering that retirees were also cashing out on the mainland, and looking for cheaper housing so they could retain some of their housing gains to finance retirement.

So what could possibly happen? Now the vacancy rate for rentals in Victoria is .3%, and prices are escalating in the double digits. Where will the seniors retire to?  Where will Victoria's young working families live? I guess they will all commute from mid-island, as we were told to commute from the Valley here in Vancouver.

Sadly, and on it goes.