Tsur Somerville on Vancouver Housing Prices

The Vancouver Sun has an article comparing Vancouver's current housing prices to those of Sydney, Australia, where prices rose quickly for several years before plummeting in late 2003.

Over the past three years...prices have risen faster in Vancouver than the Canadian average, behind only Montreal and Toronto. But Vancouver's housing boom only really got going in 2002 -- lagging the rest of the country by a couple of years. If you look at prices over the past five years, rather than the past three, prices have actually risen slower in Vancouver than the national average, trailing every major city except Calgary and Halifax.