Quote:
Originally Posted by DoubleF
I thought he answered your question though... sprawl. And to a certain extent, yes. Actual demand. Temporary FOMO demand, so the demand will crash once the FOMO momentum is gone, but still demand none the less.
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I disagree with the characterization that it's just FOMO. That does cause temporary spikes, but it's not as though. Vancouver has frequent "adjustments", but I doubt we'll ever see that major crash. There's just too much demand and too much money in Vancouver. If houses ever came down to half of what they are now, people would just drive up with barrel full of cash.
Unless something drastically changes to alter the demand for housing in Vancouver, the limited supply of housing will always be in high enough demand to keep things from truly crashing.