Yes, Toronto is probably in a house bubble. Is it in a housing bubble, though? If doing more with less is the goal here (as opposed to less inflation on houses

Yes, Toronto is probably in a house bubble. Is it in a housing bubble, though? If doing more with less is the goal here (as opposed to less inflation on houses in Toronto) why are people missing the relative affordability of condos and apartments? A large flat structure with lots of mostly unused land (by percent utilization) is horribly inefficient. A condo costs less to live closer to the interesting things like work and culture and the higher density means the bottleneck resource (land) is utilized much more efficiently. I know there are cultural reasons not to, but to me living in houses is not something we would necessarily ever choose if we started today with a blank slate. I think a world more along the lines of 80-90% green space with a sprinkling of 100+ storey condos in variable sizes and trim levels would be more livable. I struggle to see why one would want a backyard let alone feel entitled to one. I think the relative price of land to median income will increase as population does (pretty easy to assert) and that we should instead just build very high density buildings surrounded by green space instead of engaging in zero sum competition for an unused backyard. We talk so much about AI making web services better as a form of progress but how much of the middle class budget goes to web services? Sure it could make life better in the future but housing density could make life significantly better now.