You have to remember that Vancouver was the hottest housing market in Canada. Toronto is #2, but prices there are maybe 60-80% of those in Vancouver. And Toronto is a massive city with a ton of high paying jobs. Vancouver not so much.

As I stated in another reply, I have no doubt the foreigner tax had an impact. But even without it, the Vancouver market was poised for a downturn.

We're seeing signs of slowdown in house price increases here in Toronto as well this year. Many houses around our area are selling below asking price (which is historically uncommon)

Perhaps, as some other persons commented on the thread, the housing price at Vancouver was pushed high by oversea money? The other cities were not like this?