In Toronto, cheering when homeowners sell at a loss has now become a spectator sport. Is that a bad thing?

The Etobicoke red brick detached home was on the market for 40 days this summer.

After multiple price adjustments, the three-bedroom, two-bath finally went for $1.545 million, over half-a-million less than when it was last sold, near the height of the Toronto real-estate market in spring 2002.

The reaction? “Excellent.”