Quote:
Originally Posted by Slava
I guess as far as real estate goes the nagging question is basically this:
A) You bought a house in 2007 for $500,000
B) Would you list that home for $425,000 today?
C) Are you going to want to list in another 6-8 months for $350,000?
That is essentially what you are suggesting that the market will do here. Whether you factor in the projected growth or not at that point makes little difference in some ways. The only time a guy with a $500,000 house is selling for those types of price is when he has no choice....its sort of an artificial floor on the market in that sense?
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What if you bought in 2002 for 240K and were just laid off. And there is a job for you back home, sask or ont?