Actually, in Vancouver, it's the rich Chinese who buy mostly condos for themselves and their kids because they believe the prices will continue to grow indefinetely... Many of them have never had any intention to live in Vancouver, they just get fooled by Vancouver being marketed as the Place-To-Go for everybody choosing to move to another country.

Real talk, many of the Vancouver Real Estate companies capitalize on this Vancouver overhype to sell apartments as "assets" to various foreigners and then rent it to other foreigners, who are actually moving to Vancouver, for ridicuous prices. That will be no longer possible when the market corrects itself and many realtors will have to find new sources of income...

I'm actually wondering if I'll have the honor of seeing the local economy collapse before I catch that steel bird : )