"Most respected economists . . . "?  References please.  

You really don't want to let facts interfere with your opinion, do you?  The May 2017 stats show the average price of a single family house in North Vancouver was $1,698,000, while the average price of a single family house in West Vancouver was $3,280,000.  There were 423 sales in North and West Vancouver in May . . . nothing imaginary about them.