Hey look, the Globe and Mail is still PRETENDING that Vancouver (and, increasingly, Toronto) have high house prices for a reason that is somehow NOT overseas money flooding in.

Give it a rest, Globe and Mail. Readers are not as stupid as you seem to assume.

Vancouver house prices cost dozens of times the average annual local income.

There is NO WAY - repeat, there is NO WAY - to get house prices that high without external money flooding in. It is an IMPOSSIBILITY for local wages to get house prices to 24 times, to 30 times, to 36 times the average annual local income. 

Not green space. Not mountains. Not low interest rates. Not environmentalists.

It is OVERSEAS MONEY flooding in to Vancouver that has gotten house prices so high. It is the ONLY mechanism that fits the fact pattern.

So please, Globe and Mail, drop the nonsense.