Stephen Quinn, please ask the City of Vancouver what the minimum price for a new apartment in the city must be. They do have a minimum and, last I checked, it was about $237,000. It's possible to build beautiful, well-appointment 1 and 2 bedroom apartments with all the appliances and everything else for far, far less than $237K but the city won't allow it because their tax base requires a certain minimum cost per unit, or value. The reason there is virtually no affordable housing in the city is that the city won't allow it to be built.