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Job market has dramatically changed.
Simple demand vs supply.
Last year there were serious labour shortages, so supply exceeded demand.
This year companies are expecting a recession so open postings have diminished but demand has maintained, plus layoffs and RIFs have added to that. So demand has exceed supply.
I've observed an increasing number of my colleagues taking remote work situated in either the US or Toronto. At the end of the day, even if the cost of living in Vancouver is insane, Vancouver-based companies are still behind the curve in terms of salary.
This is directly a result of the imbalance in supply and demand of the job market