And my anecdotal experience is losing ~100K selling a house in the down market of 2009.

As for whether a condo makes its money back - suppose someone doesn't plan to sell it? A place to live is more than a profit/loss or investment decision. As the article mentions at the end.

It depends on the area. In San Francisco or Boston, buying a condo is fine. In other areas, buying a condo may be a bad idea.

That was the trend for some time. Unfortunately, I've known some that lost a house due to lack of being able to sell it for the loan amount and known others that just barely broke even (they might have had to pay fees out of pocket).

My aunt and grandmother made money on a condo some years back - but that was before the bubble burst.

I own a condo in the DC area, near a metro stop. Made up to about 100k in five years of ownership. Buying a condo in a walkable, urban area can work out very well.