As Spock would say, "Fascinating."

We were discussing home prices with friends just the other day  (like lots of other people.) Based on the selling price we see from neighbours in a home for sale exactly like ours, our place has increase about $100,000 in the past YEAR. Based on what they see up the street, our friends now say since they bought their home (two blocks from us) two years ago, their place has increased over $150,000 in value.  That means about $800,000 today.

New 1,400 sq. ft. no-basement ranchers just up the road and around the corner: around $700,000

This, in a little town of 80,000, about 1.25 hours East of downtown Vancouver. Chilliwack.

Will the "test" be enough to turn boom to bust?  Here's another question: will the "test" affect off-shore buyers?