O/S investing

Im currently in vancouver and it is interesting to see the difference in the canadan market compared to Australia. It seems to me that the Aus market is at the end of its cycle, where in Canada (vancouver) it seems to be at its start of its cycle.

Reasons why
Construction every where

interest rates are capped at 3.75% for 3 years

I nice appartment in downtown VAn costs around 200k to 250k, with rental returns of between $250 and $300 per.

Vancouver is also getting the 2010 winter olympics.

I dont know about you guys but these conditions seem alot better than australia at the moment.

Does any one have any exsperience on investing O/S??? Good or Bad.