this post was submitted on 23 Nov 2023
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[–] whoisearth@lemmy.ca 1 points 11 months ago (1 children)

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.

[–] karlhungus@lemmy.ca 2 points 11 months ago (1 children)

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.

This jives with tank, but not with stagnate.

[–] whoisearth@lemmy.ca 1 points 11 months ago