It's that way here in Calgary, as well. Bank of Canada said that one of the two biggest factors in the economy climbing out of recession locally was the housing market taking an upturn.Same thing here. I see more "sold" signs than "for sale" signs now.
I feel for people who lost a ton of value on their houses. People who are looking to buy their first home or are looking to upsize/downsize for cheaper than they were before are going to benefit the most. We bought our house when it was listed for $139,900 but we managed to get that down and that was before the market shot up in 2005. I can't imagine trying to buy a house in Calgary when it was being sold for $400k or more before the housing bubble burst 18 months later.