Go-cascades: "- 7-8%"...what is down 7-8%? Single family dwelings on the west side and West Vancouver that sell for over $3 million? Not exactly what first time buyers are purchasing. I'm sure you will find that the "housing market" in BC is not one homogenous investment/product type either. I agree that many people are risk averse and should probably stuff their $ under the mattress and rent for the rest of their lives.