If they bought last year, they're break even in terms of average price but they've lost their closing costs on purchase (ie. legal, land transfer tax, inspection, etc).  If they sell today, they are paying around 5% on realtor fees.  In other words, they're not up 10% to 60% because of these costs.  Someone who buys are house for $1 million and sells it for $1.1 million does not make 10%.  They're break even at best after factoring cost of acquisition and disposal.  Again, you have just demonstrated how many Canadians are financially illiterate.