“OK here’s my confession:
Bought a house in 2003. around $400K in the East side. Sold in 2005 due to personal reasons, for around $600K. Thought I did great.
Thought I will wait out the house market because it is too overvalued. Still waiting. Now that same house is probably valued around $1.1-1.2M.
I still believe it will crash, been following this blog and others for ages. But so far no luck. Been waiting 7 years. Very tough with all the friends and family saying I’m stupid.
However, renting a beautiful house on the west side in a neighbourhood I could never afford to buy in, so life is good overall. Actually living in a house nicer than all my friends and family for the monthly cost of a mortgage on a crack shack in east van.
So not feeling too bad actually! Still looking forward to the crash… hope it happens this year.”
– popgoesthebubble at VCI 1 Jun 2012 7:53pm
It’s tough being a bear in a speculative mania.
The crash will be a ‘process’. It certainly won’t happen in a single year.