Interesting Article on Global Appeal of Vancouver Real Estate Market

A friend of mine posted this article from the New Yorker, written by James Surowiecki that I found very interesting. This article explains Vancouver's housing market from a global perspective and the real estate trends we are currently experiencing as a result. 

When price-to-income or price-to-rent ratios get out of whack, it’s often a sign of a housing bubble. But the story in Vancouver is more interesting. Almost by chance, the city has found itself at the heart of one of the biggest trends of the past two decades—the rise of a truly global market in real estate.
— Surowiecki

Surowiecki goes on to explain that foreign investors are choosing Vancouver because of its social and political stability as a "hedge city" and its proximity to the Pacific Rim. He also mentions a safe feeling with reference to climate change.

These foreign investment and global interest serve as a benefit for current home owners, but a challenge for many buyers. The surge in housing prices in Vancouver bring both good and bad changes to our city. I am interested to see other's opinions on the matter.