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Whatever happens, it will not drop below what it is today. That's my personal opinion.
It is still profitable to buy property and rent it out. People are still making money even if they didnt have the appreciation. This is even during a time when there is much demand for buying instead of renting. Rent prices are very low, all apartment complexes are making crazy deals to get people in.
If demand moves from buying to renting, the rent prices will increase, and it will still boost the profitability of owning a property, and that's why the values can't drop.
It is leveling off i believe, until the day the mortgage payments cost much more than renting.
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