It sounds like you guys are arguing about two different things. Home ownership in BC vs. just Vancouver. Rental rates are clearly going to be higher in Vancouver vs. the rest of the province.
To add to this, it's not just home owners in BC, who have an interest in keeping the status quo. It's also their children, who stand to inherit huge swaths of money via ultra high real estate prices. Also, young people are more likely to rent, and they aren't great at voting. It's also not just votes politicians are concerned with, it's issues like tax revenue and sway from the wealthy.
Home owners pay more taxes, especially on the municipal level. Once the election has been won, the politicians can then choose to cater to interest groups. This is why we can't get townhouses, but we easily get lots of quieted streets and bike lanes.
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