[Blease]

Okay Alex, I agree that Vancouver incomes don't support Vancouver property. However, the model you refer to has never really held in this city and Vancouver has never been a typical city in that regards. While Canada is regarded as a leading world nation with a very high standard of living (and quality of life), Vancouver is it's only major city with winters that could be described as non-Siberian. And being surrounded by an ocean and picturesque mountains doesn't hurt. So while Toronto, Montreal and Calgary have all the perks of a major Canadian city, they don't have our weather or scenery and that's the difference. Chinese zillionaires and wealthy Canadians from across the country will ALWAYS pay a premium for a slice of life here. Hence local incomes count for little when it's affluent outsiders who are driving the real estate market. And yes China could indeed fall into a perilous recession, but some other global economy will step in to its place to pay exhorbitant rates to buy that little bit of Vancouver paradise.

Wenzi, sorry to go off topic. I sense you will do just fine investing into his neighbourhood. Park Place looks beautiful, has a lovely park across the road and the King George station development next door looks very exciting.