> Wages can't rise either as there are tons of people who are willing to stay in Toronto no matter how relatively poorer they are as a result. In an economicall

> Wages can't rise either as there are tons of people who are willing to stay in Toronto no matter how relatively poorer they are as a result. In an economically rational market, people would leave Toronto over the costs and salaries would rise (like they have in San Francisco, where people have left to Seattle and Denver and remote work over pay not going very far). That is not happening in any meaningful quantity. That's because of the out of control immigration quotas. It's still a better deal to live in Toronto than in their home country for a lot of people around the world. Combine this with an extremely conservative investment landscape and that's what you get, over speculation on "safe" assets and a lack of funding for other businesses.