http://globalnews.ca/news/2887766/data-is-the-metro-vancouver-real-estate-market-in-free-fall/
Perhaps a touch alarmist, but c'mon, when you're kissing 4 standard deviations out from the norm, mean reversion is gonna smack yo'ass like nobody's business eventually.
IMHO, YMMV.
whether the market is "devastated or not depends on how you read the numbers. as one article pointed out, there's been a big drop in the sale of high end and west side homes, and that could significantly pull down the average home sale price.
in order to get a more accurate picture overall, you need to break down the sales by type, region and price. so what if the high end market has collapsed? if the mid and entry level market numbers are still strong then that means for the vast majority of people not much has changed.
We don't know what our limits are, so to start something with the idea of being limited actually ends up limiting us.
Ellen Langer