Vancouver, BC, is the most expensive housing market in North America, but, as James Surowiecki reports in the New Yorker, this has little to do with the local economy and everything to do with the globalization of real estate: “A torrent of capital from wealthy people in emerging markets – from China, above all, but also from Latin America, Russia, and the Middle East – has flowed into the real-estate markets of big cities in other countries, driving up prices and causing... Read more