It has been painful for renters awaiting price drops. This from bc buds at Langley Financial Planning, mohican’s blog, 9:49 PM, May 09, 2008 -
“I’m a bear and have been for the past two years. In that time I have spent 40K on rent and missed out on at least 100K of appreciation (2 bedroom condo downtown). If I had bought a place for 500K with 50K down my mortgage would have been paid down by just under 10K by now. If the place is now worth 600K a 20% drop brings it back to 480K. 20K under what I would have paid two years ago, a loss of 4%. I hope the bears get it right soon!”
