real estate prices

Reading about the mortgage modification marathons in the States, what's striking is how much individuals trying to save their homes have lost and how little their homes are now worth. A drop from $160,000 to $60,000 says one, and $115,000 in 2004, to $42,000 now says another.

In Vancouver, $42,000 wouldn't buy you anything worth striving to save - maybe a cardboard box under a road bridge.