I’m surprised you chose Vancouver for your argument. Are you aware this is one of the worst housing markets in North America for exactly the same reason as NYC?
The one thing BC is doing correctly right now is getting rid of a lot of the market controls and introducing a lot more ways to build new housing, without any explicit focus on “affordable housing” (because that’s a tar pit.) These changes (by a social-forward party like the NDP no less) are what are easing pressure on the market, though it is still deeply unaffordable.