When Christie Clark imposed the 15% Asian tax on housing, her rationalization was that it would give the "locals" a chance to buy in.  So where are the happy stories of the middle class family buying their dream home thanks to the Liberals?   The precipitous drop in sales confirms that Chinese buyers were an important driver but it also confirmed that the most of the  locals stumping for just a "chance" to buy in were blowing hot air.   If there a correction, its going to be the same upper echelon buyer who will swoop in, not the average Vancouverite.   If those on the sidelines were hoping that a nice fat 25% correction (unlikely) would open the window for them, they may be get a rude awakening because the BC economy would be in dire straits given the contribution of real estate to the overall GDP.    It's over for the average guy.