From 2016 onward, the double-digit increases in house prices continued at an average annual rate of 17 per cent. A single-family home in Vancouver purchased in that year is now worth somewhere in the neighbourhood of $80-million. Vancouver is now a resort city populated only by the world’s wealthiest.
The good news is the city has never been more multicultural, with money launderers from all parts of the globe living here for at least one week of the calendar year in order to avoid paying the city’s empty-home tax. The rotating cast of sheiks and warlords gives the city a special flair.