So why are they doing this in Vancouver and not like Detroit, where you can get almost 20 median priced homes (60k each) for the price of a single median price

So why are they doing this in Vancouver and not like Detroit, where you can get almost 20 median priced homes (60k each) for the price of a single median price home in Vancouver (1.2m each)? It's about just buying property and storing cash right, why not try and corner the Detroit market since its actually possible with these numbers? Because its not about just buying for property buying sake. It's just an asset. People invest in assets to hopefully see a return. The fact they are buying in vancouver and not detroit is because these investors expect to see a substantial gain with the vancouver asset versus the detroit one. SPY is down 20% this year while vancouver properties actually saw a gain, its even better to invest in vancouver real estate than the stock market currently. So how do you walk this back and not make housing in vancouver such a great speculative asset? Easy, you devalue housing, by allowing for apartments to be built in the ~80% of vancouver that is limited to single family or low density development.