b5baxter updated his crash curve graph over at Vancouver Peak. This is what he posted in the comments section on this site:
Latest REBGV HPI imposed on my price drop model:
The HPIs continue to show remarkable correlation to the model.
I know some people feel that the bubble is “popping” very slowly here. But so far at least it seems to be following the same trend we saw in US cities that saw a 40% drop in prices.
If it continues to follow that trend we won’t have to wait 7 years to see bottom – just a little over two years.
…That’s right. The current rate of price declines in Vancouver that some have described as ‘flat’ is actually falling at the same rate that US bubble cities fell at their peak.