Excatly! The problem is no one knows what he future holds. The way its looking property is going to continue up for at least another year.
So lets say I want to buy a million dollar home. Prices have already gone up about 10% so its now worth $1.1M. Prices will probably go up at keast another 10% before even a hint of correction-so the property is now worth $1.21M
Lets assume the bears then get their wish and property crashes 20%-that property is now worth $1M.
So who has really won? The person who bought the house has got to enjoy it for the last two years and is no worse off financially, whilst the bears have had to rent and hope and pray for a crash only for it to return to the value they could have bought it for.
