The average price of a home in Vancouver has gone up by 4-6% in the last month. The average price of a single family home in North Vancouver is 888 thousand dollars. This is not cheap and the first time buyer cannot usually jump into buying a house. If you are holding off buying because you think the price of a home is going to drop after the Olympics you could be missing out on an opportunity to get into the market. If you are paying rent right now, you might as well be paying your own mortgage. You are better off starting out smaller and paying down your mortgage. Then when you have enough equity you can move up.
Bye for now and happy house hunting,