Wait for three or four years to allow the crash to gather momentum. These things don't hit bottom for quite some time, and recovery to 2008 price levels will take just as long after that - if not longer.
You can actually find condos for less than $100,000 in Toronto, but it's because they're in crumbling buildings and have extremely high maintenance fees.
Yikes, it's at Jane and Finch! Yikes, it's being sold under Power of Sale. Yikes, the monthly fee is $426 (pretty darned high for a one-bedroom unit in a building with no amenities). Yikes, there is also a "special assessment" of $93.33 per month.
Shocker's comment above, tongue in cheek as it may be, might just come true.
O Walt: my comments weren't tongue-in-cheek. My tongue was where it normally is. A 30% drop in condo prices - not just at Jane and Finch - seems perfectly reasonable to me.
Wait for three or four years to allow the crash to gather momentum. These things don't hit bottom for quite some time, and recovery to 2008 price levels will take just as long after that - if not longer.