I read a lot of real estate blogs. Not just in Vancouver (very few I read here but maybe that is because few are putting out anything of substance) but also a lot in the US. One of my favourites comes from Seattle and it is the Rain City Guide. Ardell DellaLoggia, an associate broker of Coldwell Banker Bain in Kirkland has just published a fantastic piece on the nature of the markets, outperforming, underperforming, and calling for all realtors to be professionals and not (rightly so) rah-rah cheerleading everything is rosy salespeople or ignorant misinformers.
I think a lot of you will find this piece interesting:
Is the housing market performing “as expected”? | Rain City Guide
Vancouver, BC 
I left a message about month ago suggesting that prices would fall to
2006 levels.
The more I read about the economy and what will drive prices in either direction the more pessimistic I am that prices will not recover any time soon.
I like what hearing from Will that seller’s have unrealistic expectations
and the market will change that over time.
In the mean time I beleive all buyers must low ball offers to be succesful in buying properties. Be prepared to walk!!!!!