The three condos I bought this year-

I signed the contract in the spring of 2004, so I bought at the 2004 price, not the 2005 or 2006 price.

Two of them, I have 0 cash flow, but will be positive soon when I renew the lease.

One of them is very negative cash flow, but I still bought it as I did not want to lose the deposit and aim to its potential in ten years.

You are right. If I bought at either 2005 or 2006 market price, I would be really worried.