Something is grotesquely wrong with Vancouver's housing market, and the time for denialism is over

``Others seek to frame unaffordability as inevitable, since Vancouver is a city of limited land supply. But plenty of other cities are in the same boat: New York and Singapore spring to mind. Both are expensive cities, but Vancouver has left them in the dust in terms of unaffordability. If Vancouver (price/income ratio 10.6) could achieve the affordability of New York (6.1), or Singapore (5.0) I'm betting that Eveline Xia would be dancing down Main Street... Foreign buyers probably aren't to blame for Vancouver's unaffordability. But foreign money probably is. And cracking down on the foreignness of funds will prove much harder than dealing with the foreignness of buyers, even if the will to do so exists.''