[throwaway1979]

Given that current prices were completely out of whack, and that the govt kept warning that something will be done ... people who bought at the peak deserve what they got. I've been sitting on the fence (since the math didn't make sense) for years. All we got for being prudent was annual moves and seeing other people's homes paying them more than a 1%er's yearly salary. I welcome this move by BC. Ontario needs this stat for the GTA. We also need to tax the gains from home sales. The situation has gotten so bad, young people are leaving in disgust.

[PlaidGinger]

I just bought a 450K house in Victoria knowing I'll take a haircut. The problem with timing the market is it simply hasn't crashed and I'm out of time - it's time to start a family.

[mahyarm]

You didn't need to purchase a house to do that. You can rent houses in victoria. Buying a house doesn't mean you'll keep it if economic bad times hit.

[turnip1979]

450K for a house seems cheap. In the GTA, you won't even get a townhouse for that much. A townhome (with monthly fees) probably goes for over 650K :'( I don't understand it.