In Vancouver, was Clarke and gang introduced this subprime loans for first time home buyers Condo's took off like a rocket ship. As if the bar was not low enough..5% down low interest rates. If people could not afford to scrape together then how will they pay off the home buyers loan when it's due? 

http://vancouversun.com/news/local-news/b-c-government-offers-down-payment-loans-to-first-time-homebuyers

One bedrooms that once sold for 460k are now selling for 699k and this just happened within the year or so.. Some are asking 749k..wonder why?