To start with, 5-10% average decrease is spread over 1-2 years and not immediately. Then, you have to look at various segments. Earlier, I had pasted a link to The Globe and Mail news items about sales efforts of Ritz-Carlton suites in Abu Dhabi. Just today, Remax condos has published a report The market in the 300,000 -400,000 range, that was the hottest sewgment, has cooled. Most of the condos in this price range have been 1+den and appealed to young buyers. Market segment in $ 500,000 and above range is strongest. This is the area where 'yuppies' and individuals who now own 1+den are moving into. You can read remax report at
www.remaxcondos.plus.com'