Two thoughts on this, first the market will probably not factor in volcano or sunami risk for the northwest as there hasn’t been a big event yet. While this could happen since it never has there’s a big discount on the probability of an event and on any finacial losses. I’m not saying I agree with this but markets, while imperfect are better than the alternatives.

Second, I think sometimes scientists can make risks sound bigger than they are as it’s in their interest to make their area of expertise more important in order to acquire funding, etc. I have a ton of respect for these people I’m only running this question through the human nature patterns I’ve observed over the years.

I do find Vancouver to be one of the best cities I’ve ever visited, especially during the summer. It’s also relevant to note that they have their own condo bubble that’s seems to be deflating a bit as well.