The difference is cities like Seattle, San Francisco, LA have gigantic companies anchoring the economy. Vancouver is an economic wasteland where people are proud of relative nobodies like Hootsuite.
Globalization as a whole is killing real estate in major cities across the world. While yes, Chinese influx into these regions helps with diversity but if no one is actually living in the property or it is rented out at absurd prices it forces others out of the city. Reduced young professionals will hinder small business growth and economic development in the regions and will lead to breaking points on the real estate markets.
It's happening all around the world. Been happening for years now in Australia. Sydney and Melbourne have huge pockets of areas full of Chinese investors.
The government is starting to crack down on the rules that foreign investors are only allowed to purchase new homes.
The scariest thing to me is that Australia is selling off their farm land to Chinese investors. With little to no regulation.
It pisses me off that I can see the places where food is foraged from but can't buy it b because it goes straight overseas.