text: My Richmond  neighbours are for the most part cashing out and moving.  Kelowna seems to be popular, as well as the Island. Many have quasi downsized into townhouses and moved to south Surrey or Langley and other parts of the valley. Property is getting expensive there too, but there is still enough left over if you are selling a house.
  
  It is an incredible exodus, and certainly reflected in the demographic and first language statistics of Richmond.
  
  Iit is not an exodus that is driven by who wants to buy the housing stock here, but moreso the livability of the city. The 30-50% increase in assessed value of houses this year means that almost every house has lost it's homeowners property tax grant. The city looking to allow all houses to be turned into mini-hotels is a head-shaker. I don't even know many of my new neighbours because the houses are empty all or part of the year. And if you have an older house, chances are you are boxed in by three level overbuilt, lit all night mansions.