The housing market in Vancouver is the most insane of many insanely overpriced markets, in Canada and in other countries.

Toronto's market is heady, to say the least, and even in towns an hour or 2 outside of Toronto, houses are selling at double the price they listed at just 2 years ago.

This is not only "unaffordable," it's also unsustainable. Which is a polite way of saying it's a bubble that will burst. A big bubble, that will be followed by a big bust.

It's not a question of "IF" it's coming; it's simply a question of "WHEN." That's a tough question, since nobody can predict when the housing markets will crash.

But those bubbles has been inflating for a very long time. The longer they continue to be blown bigger and bigger, the more massive the crash will be.

And as time passes, the reckoning approaches. Inevitably and inexorably.