“Recent conversation around the Kitsilano dinner table turned to — as it almost always seems to do — real estate and the role of foreign buyers in Vancouver.
The older guests decried the run-up in prices that makes it almost impossible for their children to buy on the West Side, while the kids (also at the table), looked to their parents as the lender of first resort to help them get into the market.”
- Peter Mitham in his article ‘Can We Combat Uncontrolled Offshore Ownership?’, Business in Vancouver, 23 Mar 2012
Prices reached heights over the last two years where even owners began to see how this could negatively impact their own families.
Throughout the mania it has been common for down-payments to come from HELOCs on other properties. This leads to even more equity:price leverage for the population as a whole.