UBC housing economist Thomas Davidoff believes buyers priced out of Vancouver-area homes are moving out to the suburbs or even to Vancouver Island.
“It’s clear in recent years it’s been spilling outwards,” Davidoff told Yahoo, noting that some home sellers use their profit from a sale to buy a smaller place. “So that pushes up townhome prices, people who had the money to buy a house on the west side now go to the east side and East Vancouver, which used to be working class and middle class is now getting very, very expensive.”
