This article makes one want to laugh out loud.

It appears to be predicated on the ridiculous and false assumption that ANYTHING meaningful has happened with Vancouver houses in recent months.

Hello?

The average price of a detached house in Vancouver city limits is close to three million dollars, dozens of times the average annual local income. 

The reason prices are so high there is MAINLY due to overseas money flooding in, most of it from China.

So no, there is no meaningful drop, there is no shoe that has dropped. Nothing meaningful has changed.

And it is hallucinatory nonsense to be saying that the government has taken actions (roll eyes) aimed "to cool overheated housing markets." In reality, no government - not Ottawa, not Victoria - has any interest in meaningfully cooling the market in Vancouver. If they were serious about that, they would be targeting the Quebec investor immigrant program that is a floodgate for overseas buyers getting into Vancouver housing.