Agreed...take a look at Vaughan..the reason Expo City Condos did so well was because many want to move to Maple/Woodbridge, but with an average home price in the 600's not many can afford it.condo prices dont fall in isolation. the real estate market would be falling as well ergo so will your houses. condos prices are high partly because your house is too expensive for someone to buy.
In regards to which condo's are "best" i think it depends really on what your after...I went to around 60 condo openings last year and i couldn't even answer that question.
But i will say this, prices in Toronto may seem expensive, however at the most we're around the $8-900's per square foot....and that's in prime areas (Yonge/bloor, Yorkville/Cumberland/Hazelton) and a few select intersections with high demand...In other major business hub's such as Manhattan that price is doubled and tripled. None the less the problem with today's economy is real estate prices have gotten with the times, just salaries unfortunately have not.