I generally agree with you, but I just want to point out that Toronto's housing market is anything but depressed right now. Houses are regularly selling for a

I generally agree with you, but I just want to point out that Toronto's housing market is anything but depressed right now. Houses are regularly selling for a few 100K above list price. See for instance http://fmlistings.tumblr.com/ http://fmlistings.tumblr.com/.