quote:Originally posted by Steve

My House, My Castle
The real story here is the increase in high priced sales. Skewing both sales volumes and values at the upper end increases both the median and medium values, "proving" rising or stable values in REINZ blurbs when the overall market is not quite so robust. High end purchases of assets like houses and boats can be counter-cyclical indicators rather than proof of growth. When the business game gets tough, high-end purchasers extract dividends and invest in lifestyle instead of reinvesting in their businesses and investments.