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What's the Deal with the Vancouver's (GVA) Housing Market?

Being in this profession, many people asked me exactly what is the deal with Vancouver's (Greater Vancouver Area) housing market (usually with a negative connotation peppered with slight frustration)? Some people say it's because of X, while others say it's because of Y. In fact, it's a hodgepodge of a wide range of microeconomic, macroeconomic and socio-economical reasons, factors and influences.

Without pinpointing at any specific reasons myself personally or being political about the whole thing, I'm sharing this video that comes from March 2023 on Hawaii's housing market:

Definitely see how this video on Hawaii's housing market could shed some similar light onto Vancouver's (GVA) very own quite accurately (apart from the part about decline in population).

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