Toronto has tons of upzoning. There are developments all over the city. The problem is that your primary residence is a tax-advantaged vehicle in Canada (infin

Toronto has tons of upzoning. There are developments all over the city. The problem is that your primary residence is a tax-advantaged vehicle in Canada (infinite tax-free capital gains). So the optimal choice is always to buy as much real estate as you possibly can. People also use their children to hold deeds when they want to expand into second and third homes. The tax advantaged status drives the Canadian housing bubble People are regularly talking about "housing cannot be both a good investment and affordable". In Canada, it is a 'good investment' by tax law. Look at how much real estate prices have diverged from rent in Toronto. It is mind-boggling. The gap's growth accelerated with COVID-era quantitative easing.