I've been watching it a while and I agree that the last 2 years are all interest rate driven. But before that, and after the rates rise again, we will still se

I've been watching it a while and I agree that the last 2 years are all interest rate driven. But before that, and after the rates rise again, we will still see incredibly expensive home prices compared to the salaries of Canadians. There are lots of possible factors that make up this "floor price", all throughout this thread. In the end I think it's just that Toronto is _the_ large city of Canada, and there aren't many others to choose from, AND in my experience Canadians won't relocate as readily as Americans do. So the demand to live in Toronto is VERY high. I don't see this changing.