I bought for 750k. There is no logical reason why my house would now be worth 900k. So yes, it can tank. By tank I mean stop appreciating at the ridiculous levels we’ve seen the last 10 years.
If housing prices were to completely stagnate or depreciate by 10% tomorrow I would still be even or ahead.
Stagnation is way different then reduction, I’d also be fine with that, as i suspect would be other home owners.
Tank “to suffer rapid decline, failure, or collapse” is different from stagnate. The OP said:
In all seriousness, all levels of government are moving too slowly on housing affordability. They should be trying to reduce prices to prepandemic levels, or, even better 2010 levels.
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I bought for 750k. There is no logical reason why my house would now be worth 900k. So yes, it can tank. By tank I mean stop appreciating at the ridiculous levels we’ve seen the last 10 years.
If housing prices were to completely stagnate or depreciate by 10% tomorrow I would still be even or ahead.
Stagnation is way different then reduction, I’d also be fine with that, as i suspect would be other home owners.
Tank “to suffer rapid decline, failure, or collapse” is different from stagnate. The OP said:
This jives with tank, but not with stagnate.
Touché