I have done at least 15 blogs on this topic over the past decade so please go back and watch some of my more detailed videos on why Vancouver home prices are so high and why they will remain high compared to other parts of the country. I continue to see people blame our high prices on money laundering, speculation and foreign buyers. Here are the real reasons. 1. Equity Driven Market. These are home owners who have been in the market for 10-15-20+ years and have ridden the market up. 2. Vancouver Is An Aspirational City. Unlike Edmonton, in Vancouver you are competing against buyers from other parts of Canada, N. America and the world. 3. Vancouver is Becoming a Major N. American Tech Hub. With high paying computer engineering salaries. 4. Overall Lack of Supply.. Trickle in Supply! Buildable land here is limited due to water mountains and the ARL. Add to that restrictions and high development costs put in place by COV and the NIMBY’s 5. Record Low Interest Rates Are Here To Stay.