Also you don't HAVE to live IN the city center of Vancouver. The closer to Vancouver you get the higher the prices, but someone can easily live comfortably in the surroundings areas or even in-land BC.
I hate the stigma BC has over it for being unlivable due to it's costs. Toronto is NO different in pricing, heck even London is starting to become very pricey (Average price for a home is well about 350k and more toward half a million. Give it another decade and I bet that average will officially be 500k)
I have plans to eventually go back home to BC or Alberta (Saskatchewan is even an option). I know for a fact I will never be anything less than 40 minutes away from downtown as I'm not rich, but I'm perfectly fine with that. I already commute 40 mins in Florida and will have too once I move back to Port Stanley to work in London.
We're also downsizing considerably as well and looking into tiny homes as we have no plans to have children and we're very happy when we had our 500 sqft studio in Sarasota.