Owen blogs about a question he is asked quite frequently. Why is it so damn expensive to by a home in the Lower Mainland? There are many things that contribute to our high prices here in Vancouver but the 2 main ones are no surprise ...it's simply boils down to supply and demand. Demand is high and getting higher all the time. Mainland China buyers love Vancouver, San Francisco and LA. The secret about living on the West coast is out. This is simply where people from all over the country, North America and even the world want to live. It's not a dream many people have to one day live in Winnipeg, which is why you can buy a detached home there for $200,000. On the other side of the equation is supply. In the Lower mainland we are surrounded by water and mountains. The amount of land available for development is limited and they're not making any more. When you have a high demand with low inventory you get what we have now; which are high prices. There are other factors at play like mortgage interest rates but it still boils down to supply and demand.