A little bit of a side topic, but Toronto housing prices overall have totally skyrocketed. I'm in the market for a relatively cheap condo and because there is no inventory at the moment anything that gets put on the market gets gobbled through a bidding war. Tuesday I was supposed to put in an offer for a $335k condo, which my agent said was more than it was probably worth, and the damn thing sold for $420k. Since around October the prices for these condos have gone up roughly 15%. I don't know how the government doesn't institute heavier taxes on owning multiple properties, because right now it's impossible for a single earner to buy their first place.
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