This guy was right once in his life. He’s totally wrong here. It is obvious that Vancouver and Toronto have decoupled from the rest of the country. They are now superstar cities just like Sydney, Hong Kong, Stockholm, New York City, London, and the rest. Municipal, Provincial, and Federal governments have resorted to crazy draconian measures to try and stop the economic march of both cities. Those measures are non-market derived, I think its wishful thinking that prices will change downward substantially except during an economic crisis or ridiculous government meddling.
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