Canadian Politics Today

I link to back up my claim:
https://www.vancouverhome.builders/how-much-cost-to-build-house/The house on my block is at least 2500 sq ft. 
Note that someone building an entire neighborhood of similar homes would have significantly lower costs per home.
I heard that 25% of cost of a home are various permits and inspections. It is not clear how much of that 25% is useless red tape and how much is necessary (i.e. inspecting electric work). Labour is also costly because you need local skilled workers (25-50/hour). In countries with cheaper workers the labour would be cheaper. 

That said, buildings are a depreciating asset like a car. A new one costs 500K but a 10 year old building is only worth 300K and a 40 year old one is 30K.
In markets with cheaper housing most of the sale will be for old homes.

I'm not disputing what you say because reading the words everything you say makes sense, but what is it about the brand new house in Kamloops in the link below that can sell at a profit at $350K for close to 1500 square feet? 

Are labour and materials and permits THAT different in Kamloops?  Or in Chilliwack 3 years ago when houses were selling for that much brand new?

https://www.realtor.ca/Residential/Single-Family/18751124/167-1850-HUGH-ALLAN-DRIVE-Kamloops-British-Columbia-V1S0C8

ETA - I realize the square footage is smaller, but assuming a profit at $350K, the difference would still be considered in the difference.