simuls
Senior Member
I'm looking to buy newish resale (1-5 years old) in about a year and a bit. Pre-construction will completely depend on the resale market. If the resale market tanks (20% - and we're already down around 5% of it) then the pre-con will have to adjust downward quite substantially and if it does (ala march '09 when places like 'X" knocked up to 25% off certain suites) then I'll jump in. Downtown core is simply not worth more than 560/ft for 10th floor medium building (MLS, Murano, U, etc.) with current population growth. I'm pretty conservative and will only invest if I have positive cash flow of 7-8% + appreciation. Otherwise trading and/or waiting or investing elsewhere in RE makes more sense.