More and more new immigrants are coming and the rental for an apartment is going up. So there's no reason the house price will go down. Besides, if a house at nice location is sold, it's gone. You can't get it anymore. Not like a car, if you miss a 2001 Toyota, you can wait for 2002 model. So gotta be hurry. Besides, the mortgage rate is really low right now. When the economy recovers, the rate will go up for sure.