Polak is actually looking to pay 200-225 for a 250-280K condo to keep long term and turn into a rental property when it's time to upgrade.
The lower I can buy it for, the better the chances of me being able to afford to hold onto it when I decide to buy a house.
Right now I have zero desire for a house. All that extra space, money and maintenance so that most of it sits empty for the next 5 years? No thank you.
Just thought I'd clear that up
Also, I think it will take the year for the 20% drop to really hit.