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What is your definition of long periods? :)

Fair question.
The peaky bit of a housing bubble is usually not much more than 5 years up and 5 years down again.
Sometimes preceded by a more moderate uptrend for a few years before things detach from reality.
So, somewhat longer than that? More than 10-15 years?
Housing bubbles are normally shaped like Mount Fuji. Same length and slope up as down.

Certainly there are some location-specific things going on in Vancouver, but that's true of every place to some degree.
I saw that vacancy rates are their highest since '99 and rents are hitting multi year lows.
Conceivably consistent with buy-to-let buyers speculating on house prices but not finding tenants reliably?

Or maybe it's just the uptrend prodrome, not a bubble [yet].
Heck, a bull might suggest that a big move up was overdue, prices not having changed much 2016-2019.
Still, average single family detached sale last month at just a hair under C$2m. Wow.
Up from about 700-800k before and after the credit crunch.
This isn't exactly next door to Apple HQ.

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