As someone that lives in Toronto and is moving out in the middle of the month to go back home near family. The idea that Toronto is going to focus on "affordability" is laughable. It's one of the most expensive cities to live in in the world, and the incompetent city council, mayor and all the way up to the provincial government are doing absolutely everything they can to keep it that way - mostly without even realizing it. They have absolutely no clue what they are doing or the basics of market economics.
The federal government is also considering to step in to try and "solve" the problem, and this only means the problem is going to get worse.
I am not joking when I say that when the Canadian real estate markets crash - it is going to be absolutely disastrous for this country as it is basically the tent-pole keeping the entire thing propped up. Our debt to GDP is out of control. Our federal government keeps borrowing and spending on things that are completely inneffective (and bragging they spent the most than any other country). My gloom and doom prediction is our currency is going to be absolutely worthless in two years time.
The federal government is also considering to step in to try and "solve" the problem, and this only means the problem is going to get worse.
I am not joking when I say that when the Canadian real estate markets crash - it is going to be absolutely disastrous for this country as it is basically the tent-pole keeping the entire thing propped up. Our debt to GDP is out of control. Our federal government keeps borrowing and spending on things that are completely inneffective (and bragging they spent the most than any other country). My gloom and doom prediction is our currency is going to be absolutely worthless in two years time.