There was an interesting panel discussing the state of downtown Toronto condos. The consensus was that in the next 20 years only millionaires would be able to afford a condo in the downtown core. I would argue that we will have the same situation in Vancouver. What little land we have left for development is expensive and developers are only building luxury units going forward. Yes, there will be good buying windows over the next 20 years but for the most part it will only be high net worth and high income earners who will be able to afford a downtown condo 20 or 25 years from now.