In case you missed his post in the forum, vanpro linked to the latest RBC affordability report:
The RBC Measures climbed by between 1.0 percentage point for condominium apartments and 3.4 percentage points for detached
bungalows, moving closer to their all-time highs reached at the start of 2008. We fear that the Vancouver market is becoming increasingly disconnected from local demand conditions and vulnerable to a painful correction, especially once interest rates resume their ascent.
Such strained conditions warrant close monitoring for any sign that the Vancouver and B.C. markets have become dangerously disconnected from prevailing local housing demand fundamentals.