Real estate downturn no big deal for homeowners: Prices may be down this year, but they're up over the past five

Vancouver Sun - Published: Wednesday, January 07, 2009

Figures released by the Greater Vancouver and Fraser Valley real estate boards on Monday confirm what everyone knows: The housing market is in a slump.

Sales dropped 35 per cent last year to the lowest level since 2000, and the price of a typical home in Metro Vancouver fell by 15 per cent from its peak.

But before you pull out your calculator to figure out how much equity you've lost, reflect on the reasons you bought your home. Did you buy it to flip it and make a big profit in a hot market? ... < read more >

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