I completely agree with you, prices are going up, but right now is perfect time to buy. Market is cooling off, but it will pick on during spring and summer time. If you want something decent size, I would recommend to look at midtown or downsview area. There are way more options, bigger condos and way, way cheaper prices.Funny, I just read this post as I am also interested in buying a 2 bedroom x 2 bathroom condo in the core (spire, market wharf etc).
I didn't realize the dates of these posts as prices have gone parabolic since.
Is there any hope in hell that we see a good quality 2 bedroom x 2 bathroom condo (with locker, dont care for parking) in the mid $400k again?
I'm sure we all know that the market is heated and all indicators of housing value (income to price, rent to price etc) are showing signs of bubble but realistically, will we ever see $400ks again for said condos in the core?
^^My banker, my parents' banker and at least 2 of our real estate agents would disagree; they all believe a correction is imminent, due to the recent surge in prices in Vancouver/Toronto. I actually held off on a small investment purchase with a friend to see what happens to the market during the winter.
These graphs make me believe that Vancouver houses and Toronto condos are overvalued relative to their respective markets.