There is so much being written on this subject. Sure my mindset (as an old bankruptcy/restructuring lawyer) is that what goes up must come down. My thoughts are these. Prior to the Global Financial Crisis in 2008 no one had any idea that a bunch of rogues on Wall Street were putting together toxic mortgage books. The conservative nature of the Canadian finance sector and the mere existence of the CMHC keep lending in perspective. And the reality is that people want to live in beautiful, safe, 1st world cities. Anyway, here's a brief article that appeared in the Vancouver Sun. https://www.vancouversun.com/business/affordability/Vancouver+real+estate+prices+deemed+risk/11017371/story.html