Definitely! Well, I bought a gorgeous 3,500 square foot home on a quiet culdesac here with good resale value (walking distance to public school, ocean and even the US border as I am just 1/2 mile from there. It is also close to new mall being built - Walmart, Home depot, etc and great park all around so feel it is a good investment). I have been hard fit to find in the papers something comparable for the price I got this place for. It also has a 1 bedroom suite that rented out practically the day I bought the place for $850 a month so great mortgage payment boost ;)
My plan is to live here for 5 years, until son is done highschool, then rent out my wing of the house and buy again. With Olympics coming to our area, it always floods the lower mainland with new people wanting to live here. Expo brought many here to visit and many never left ;) There is little area to build in Vancouver now and we have to go up now instead of out so homes are holding their pricing and usually do here even in down market times.
I had moved 10 times in 10 years renting and this is like heaven. With the added rental suite bonus, my mortgage payment is only about $200 higher than my rent and now it is an investment.
As you can tell, I`m very excited and happy with my investment :)