“My sister-in-law bought her place 5 yrs ago, and saw her house price double last year. She tells me that she isn’t worried because the prices cannot drop below what she paid. Only time will tell.”
- eagle eyes at greaterfool.ca 2 Feb 2012 1:13am
These are the owners who may well end up being most surprised by the coming deflation.
After sitting on what felt like certain profits for years, they will give them back, and more.
The mania was already well underway by 2006; prices could end up going back as far as those of 2000, 2001.