Buying a condominium now or in 2 years ?

[SheilaT]

3. If you can afford the condo

don't worry about getting in at the absolute bottom of the market. Market timing in real estate or the stock market is something of a fool's game.

But, if you can't move in right away you'd better really like being a landlord. And if you're not going to move in right away, that may impact the loan you can get. Discuss at least some of this with a realtor before you commit.

On the very bright side, it's not very likely that even if the absolute bottom of the market was reached last week, that prices in most places will increase greatly in another two years.

I bought two and a half years ago in my city, and I believe if I were to try to sell right now I'd sell for only what I paid. But I didn't buy just to make money. I bought because I wanted to own and I could afford this place.