That seems reasonable up to a degree. Unfortunately for sellers, immigration and CMHC have both just been tweaked in the wrong direction. An 80 degree glide path does not bode well for a soft landing, an "unscheduled deconstruction" seems more likely.
What if somebody listened to Taipan and missed that 61% increase in SFH values in just 39 months? They would have missed one of the biggest money making opportunities in Vancouver real estate for many years.