That was my exact thought when I saw his quote. Just because the house once sold for 4.2 Million than recently sold for 3.6 Million the market has become some sort of bargain???? Wait until that house sells for 1.2 Million and than maybe it starts looking like a bargain.

Oil industry crashed in Canada and housing has been the only "Golden Goose" driving our fragile economy not to mention the "Wealth Effect" spending that went along with the booming real estate market. When that goes, there goes our economy.

BTW, I own my house, but I can honestly say real estate in this country went into the Twilight Zone a few years ago and a painful, possibly brutal reality check needs to hit our real estate market.