stats don't tell the entire picture. The best way to see what's happening is to actually be out there looking. The biggest drag on the condo market currently, from what I see, is the huge influx of complete trash at high prices. There is no shortage of places I've looked at where I thought the entire building should be condemned and demolished. These places were snapped up by investors during the insane boom to rent out at ridiculous prices, but not places anyone would actually want to live in ever, or call home. Try getting a deal at a huge discount on something good. A good building, good unit, good exposure, good view, good location etc. There are no deals for those places because everyone currently looking is looking at the same good stuff. Those places are still hot and sell fast.
I've been inside ground floor units in unmaintained buildings listed close to 300k where huge streams of bugs were running around the floors and on the walls. Agent tells me how they purchased this place in 2008 or w/e at the peak for 325k or something insane. Ok, those places you will take a bath on and the average price will take a huge hit because of these types of units. If you have a unit in a nice new concrete high-rise with a great view of downtown, forget about it. You have nothing to worry about there.
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Originally Posted by killramos
