I'm not sure that the problem has ever been how many Chinese have immigrated, but how many rich people who happen to be Chinese have immigrated. For starters, we have an entirely misguided and wrong-headed 'immigrant investor program' that allows rich people to jump the immigration queue.
I think the problem is deeper than this, though. Most people in Vancouver actually want prices to stay high; there are a whole lot of home owners in Vancouver who are counting on that $3M cheque for their house to pay for their retirement. Its the provincial government that wields the legislative cudgel here, and they're going to listen to those home-owners waiting for their Chinese-exit. Worse, much of the BC economy is now based on real-estate; selling it, buying it, rebuilding it, and renovating it. We've built our economy on selling rich Chinese people our homes. If the provincial government intervenes and fixes house prices, it would probably harm the construction and real estate business; it would be political suicide.
