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I agree with you entirely. I read recently that the population growth of downtown Toronto has tripled in the past five years. Assuming that is a trend consistent with most major North American cities, the cost of housing has to compensate.

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I don't read this site very often but did read this article about renting vs. buying using Toronto as an example. With his math you come out way ahead by renting in a new building downtown vs. buying a house in the suburbs.

http://www.mrmoneymustache.com/2015/07/27/rent-vs-buy/

Of course, you might not agree with his math.

It isn't. Toronto has been building new housing at a rate higher than any other North American city. The city is filled with cranes everywhere. The growth is just from people filling up the newly created space. Something that isn't happening elsewhere on such a scale.

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