Anyone else lose a significant amount of coin during the downfall. Trying to relate to comeback stories. I lost 400k in the Canadian market on 1 home.

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Did you actually sell and lose 400k or is it an estimated value loss? Speculating on market swings is gambling, not investing. If you look at it on 10,20, 30 year time frames if it averages out to 5% that’s about the average and it might take 10 years to get back to previous peak value. I handed one back to the bank where I was upside down 100k. I bought another house 4 years later and made 150k holding it for 4 years. Real estate is on the risky side now because many values doubled in the last 3 years. If inventory of homes frees up we could see 20-30% declines easily in the U.S.. All it would take is high unemployment.

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Unfortunately it was a Materialized loss. Private lenders we’re hiking up rates to 15% & I had to exit the market due to unaffordable monthly mortgage costs & the inability to get a loan due to a 85 LTV & also rental from the tenants could only be risin 2% annually due to the tenants laws in Canada.

So monthly carrying costs went up while I was unable to get the tenants to compensate all while value dropped significantly over a two year span.

Thanks to interest rate hikes !

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Which downfall, like 2008?

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In the last two roller coaster 🎢 rides of the real estate market. 2021 onwards.

I think most people who bought a house at the peak of 2008 came back. I know a ton of these people. They bought at a high and the market crashed, and now 14 years later, that same house value far surpasses the value of what they paid for the house

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