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I'm curious when people talk about "housing prices" in Vancouver, are you talking about across the board, including condos, or just single family detached homes?

A lot of people reference a time when their parents could afford a SFDH in Vancouver, but that was likely when the city was just over a million people. The city has more than doubled since then and it's not realistic for everyone to be able to afford their own plot of land in that situation. The city of Vancouver itself is a bit bigger than Manhattan for example. No one talks about single family detached homes in Manhattan. I'm not literally comparing Vancouver as a city to Manhattan, I'm simply saying that Manhattan is a similar situation where land is at a premium.

Condo prices are still out of wack with average salaries, and I could see them losing value (their prices are certainly comparatively stagnant compared to SFH), but I really don't see all the predictions that single family detached housing will suddenly become affordable in Vancouver as ever coming true. That ship has sailed.