BCREA (British Columbia Real Estate Association) has announced that there was a 4% increasing in Vancouver housing price recently. The housing market is overshooting itself. Meanwhile, Atherton, located in the center of Silicon Valley, becomes the most expensive housing area in America this year (the average price in Atherton is about 6700000 dollars. The housing price in Los Altos Hills also rises to be No. 2.

The soar in housing price is mostly a consequence of developments in technology, changes in the economic structure and participations of wealthy buyers from foreign countries. The high housing price exerts a heavy debt on ordinary people while provides a good opportunity for those multimillionaires to speculate and enlarge the gap of wealth. However, the market analysts predict that there will not be another apparent rise in a few months because of the weakness of economic as well as the difficulty in employment.

The change in housing price just reflects the economics of the country. More and more immigrants move to developed countries such as America and Canada, contributing a lot to the economic growth in these countries. On the other hand, the changes also widen the gap and make it more difficult for the government to control the market well. Only a stable market can guarantee promising developments, and the countries have to take economic measures to ensure the positive improvements.