To what extent do housing prices need to drop before it's the right time to buy? There's a highly upvoted response online that explains it like this. If you can understand the following story, you'll know when housing prices hit rock bottom. Back in the day, the record price for a Tibetan Mastiff was 10 million yuan for one. There was this guy who heard that someone was urgently selling five Tibetan Mastiffs for 3 million yuan each, totaling 10 million yuan. The guy sold everything he had, borrowed money, and finally scraped together 10 million yuan to get those five Tibetan Mastiffs.