This Bloomberg article explains what has been happening here: https://www.bloomberg.com/features/2016-vancouver-real-estate-market/ https://www.bloomberg.com/fe

This Bloomberg article explains what has been happening here: https://www.bloomberg.com/features/2016-vancouver-real-estate-market/ https://www.bloomberg.com/features/2016-vancouver-real-estat... Vancouver is located at the most western point of the Fraser Valley which is locked in by a mountain range to the North and the US border to the south. I live in Chilliwack, BC at east end of the Valley. I bought my home out here in the "cheap" part of the FV in 2015 for $375,000 and two years later it's assessed at $570,000. The joke here is "they pay you in mountains and rivers". Wages are nowhere close enough for the average family to live here, so many are having to leave. But because Canada has some pretty epic winters in most of the country, and Vancouver has the mildest weather and climate (read: it rains a lot here) many baby boomer Canadians move here to avoid the winters the rest of the country endures 3 - 4 months out of the year. If you're a US citizen thinking about leaving the US and are considering moving to Vancouver, do your research first. Talk to other Vancouverites and check your assumptions before committing to buy property. I'd recommend renting here for a couple of years to see if it's for you, and also because the market will hopefully correct and you'll get a better price on a home.