saturday june 26th 2010 reiv auction results, page-26

"So a home worth $1,000,000 now will be worth $800,000 in say 3 years but if you sell now and stick it on deposit you will have about $1,200,000 in 3 years time. Assuming rates don't go up?
That looks a huge incentive to sell, even if it's only a 10% fall and sideways for 2 years?"

You didn't factor in the rent you will be getting from the property or the rent you will be saving living there.