Across Canada, home values have been astonishingly resilient—even defiant—in the face of economic pressures that would have crushed other markets. Double-digit interest rate hikes? Prices stayed high. Surging inflation? Barely a blip. A record number of newcomers without matching housing starts? Still no crash. But now, something different is brewing—not a spectacular collapse, but a slow, quiet downturn no one wants to talk about.

Cranes dotted every neighborhood—Burnaby, Richmond, Surrey, and the city core—heralding a future of gleaming glass towers promising prosperity, community, and homes for thousands. Yet in 2025, the once-celebrated construction frenzy has morphed into a landscape littered with stalled projects, cancelled towers, and angry buyers left holding empty promises and non-refundable deposits.

Between 2020 and 2022, mortgage-backed studios, micro-condos, and co-living buildings flooded the market. Yet much of that demand came thanks to international students, many enrolled with no intention of staying or studying full-time. Now—in 2025—this veneer is cracking.

In one corner: Baby boomers—the generation that rode real estate to riches, paid off their homes, and now sit atop portfolios funded by multi-property holdings. In the other: Millennials—the generation saddled with student debt, locked out of the market, and scared of betting their future on housing that may not appreciate again.

Once hailed as a convenient financial tool to unlock home equity, HELOCs are now fueling a risky addiction: using homes as giant credit cards to fund consumption, cover bills, and even prop up fragile lifestyles. As interest rates climb and the cost of borrowing balloons, many Canadians are waking up to a harsh reality — their dream home has turned into a debt trap.

Canada is quietly approaching the edge of a financial cliff. A towering 1.5 million mortgages—most of them born in the low-interest, high-optimism era of the pandemic housing frenzy—are scheduled for renewal between now and the end of 2026.

This deep-dive explores everything from current prices, neighborhood-by-neighborhood comparisons, market data, buyer psychology, government policy impacts, risks, and future outlooks. We analyze actual sales data and developments to give a clear picture of the evolving landscape. Whether you’re a first-time buyer, investor, or upgrader, this exposé arms you with the insights needed to make an informed choice.

As 2025 dawns, the impact and evolution of these taxes are clearer than ever — yet their effectiveness remains hotly debated. This article is a deep dive into how these taxes have shaped Vancouver’s housing landscape, what enforcement looks like today, the many loopholes savvy owners use, and what buyers need to understand to navigate the market wisely.

As the shine fades from Metro Vancouver’s overheated and oversupplied condo towers, eyes are turning elsewhere—to BC’s so-called “emerging markets”: Kelowna, Nanaimo, Langley, Abbotsford, and parts of the Fraser Valley.

Two open letters landed on Prime Minister Mark Carney’s desk. One, from B.C.'s largest developers, urges a return to foreign capital to maintain condo supply. The other, penned by 27 housing academics and planners, calls for rejecting speculation and investing in long-term affordability. Their messages present starkly different futures. This article unpacks both worlds in depth.