Sdcellar,
Assuming I can save $50k per year, I should be able to reach $500k in 3 years for a substantial downpayment. We don’t want to carry more than $500k mortgage so pulling the trigger with 20% downpayment sounds a bit too risky to me. Throughout the next 3 years, housing may go down, stay about the same or even go up a little (not likely), I am betting it to stay around the same. In short, I am just saving and hoping houses that I am interested in come down or worse case stay around the same price while savings catch up.
