[ssiguy]

If any Vancouver mayors were even slightly interested in bringing prices down to earth they could put a moratorium on teardowns. You know, actually living in the place you buy.

If they had done this the house that sold would have been lucky to get half that price. This is something that is 100% the responsibility of the cities and not the province as it has to do with local planning and has no input from the province. There is nothing the province could do to stop it even if they wanted to {which they definitely would} as the province knows how vital real estate speculation is to the BC economy and the massive amounts of revenue it brings into Victoria coffers.

This would require the cities putting their money where their mouths are and it won't happen.