When the four homeowners on Cambie Street banded together last year to sell their houses as a package, they were looking for a profitable ride on Vancouver’s current real-estate wave. One feels like he won the lottery. But his neighbours are mournful and unsure how much they’ve really benefited.

As Vancouver undergoes a massive transformation along some of its main streets from suburban rows of single-family houses to corridors of townhouses and six-storey condo blocks, homeowners are agreeing to sell together to get a higher price from buyers who want big chunks of land for major new developments. The mass sales – known as “land assemblies” – have real estate agents, owners, local developers and a big new contingent of foreign investors scrambling to get in.

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