{"id":188006,"date":"2025-04-24T05:35:28","date_gmt":"2025-04-24T05:35:28","guid":{"rendered":"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/"},"modified":"2025-04-24T05:35:28","modified_gmt":"2025-04-24T05:35:28","slug":"why-are-housing-prices-so-high-in-toronto","status":"publish","type":"post","link":"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/","title":{"rendered":"Why are housing prices so high in Toronto?"},"content":{"rendered":"<p>Toronto, the largest city in Canada, has experienced a significant surge in housing prices over the past decade. This rapid increase has led many to wonder why Toronto&#8217;s real estate market has become so expensive. In this article, we will delve into the various factors contributing to the high housing prices in Toronto and address some frequently asked questions regarding this topic.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_62 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#Factors_contributing_to_high_housing_prices_in_Toronto\" title=\"Factors contributing to high housing prices in Toronto\">Factors contributing to high housing prices in Toronto<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#1_Supply_and_demand\" title=\"1. Supply and demand:\">1. Supply and demand:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#2_Foreign_investment\" title=\"2. Foreign investment:\">2. Foreign investment:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#3_Low_interest_rates\" title=\"3. Low interest rates:\">3. Low interest rates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#4_Speculation\" title=\"4. Speculation:\">4. Speculation:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#5_Lack_of_housing_options\" title=\"5. Lack of housing options:\">5. Lack of housing options:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#6_Government_regulations\" title=\"6. Government regulations:\">6. Government regulations:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#7_Urbanization\" title=\"7. Urbanization:\">7. Urbanization:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#8_Economic_growth\" title=\"8. Economic growth:\">8. Economic growth:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#9_Infrastructure_and_amenities\" title=\"9. Infrastructure and amenities:\">9. Infrastructure and amenities:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#10_Limited_land_availability\" title=\"10. Limited land availability:\">10. Limited land availability:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#11_Income_disparity\" title=\"11. Income disparity:\">11. Income disparity:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#12_Market_psychology\" title=\"12. Market psychology:\">12. Market psychology:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#Frequently_Asked_Questions_FAQs\" title=\"Frequently Asked Questions (FAQs)\">Frequently Asked Questions (FAQs)<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#1_What_is_the_average_cost_of_a_house_in_Toronto\" title=\"1. What is the average cost of a house in Toronto?\">1. What is the average cost of a house in Toronto?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#2_Are_housing_prices_in_Toronto_still_rising\" title=\"2. Are housing prices in Toronto still rising?\">2. Are housing prices in Toronto still rising?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#3_Are_there_any_affordable_housing_options_in_Toronto\" title=\"3. Are there any affordable housing options in Toronto?\">3. Are there any affordable housing options in Toronto?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#4_Can_the_government_intervene_to_lower_housing_prices\" title=\"4. Can the government intervene to lower housing prices?\">4. Can the government intervene to lower housing prices?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#5_How_has_the_COVID-19_pandemic_affected_housing_prices_in_Toronto\" title=\"5. How has the COVID-19 pandemic affected housing prices in Toronto?\">5. How has the COVID-19 pandemic affected housing prices in Toronto?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#6_Are_rental_prices_also_high_in_Toronto\" title=\"6. Are rental prices also high in Toronto?\">6. Are rental prices also high in Toronto?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#7_Can_first-time_homebuyers_afford_homes_in_Toronto\" title=\"7. Can first-time homebuyers afford homes in Toronto?\">7. Can first-time homebuyers afford homes in Toronto?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#8_Are_there_any_up-and-coming_neighborhoods_with_more_affordable_housing\" title=\"8. Are there any up-and-coming neighborhoods with more affordable housing?\">8. Are there any up-and-coming neighborhoods with more affordable housing?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#9_How_have_mortgage_rules_affected_housing_prices_in_Toronto\" title=\"9. How have mortgage rules affected housing prices in Toronto?\">9. How have mortgage rules affected housing prices in Toronto?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#10_What_impact_does_immigration_have_on_housing_prices_in_Toronto\" title=\"10. What impact does immigration have on housing prices in Toronto?\">10. What impact does immigration have on housing prices in Toronto?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#11_How_do_Torontos_housing_prices_compare_to_other_Canadian_cities\" title=\"11. How do Toronto&#8217;s housing prices compare to other Canadian cities?\">11. How do Toronto&#8217;s housing prices compare to other Canadian cities?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#12_Are_there_any_signs_of_housing_prices_stabilizing_in_Toronto\" title=\"12. Are there any signs of housing prices stabilizing in Toronto?\">12. Are there any signs of housing prices stabilizing in Toronto?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Factors_contributing_to_high_housing_prices_in_Toronto\"><\/span>Factors contributing to high housing prices in Toronto<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"1_Supply_and_demand\"><\/span><b>1. Supply and demand:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nToronto&#8217;s thriving economy and increasing population have created a high demand for housing. However, the supply of housing has not kept pace with this demand, causing prices to rise.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Foreign_investment\"><\/span><b>2. Foreign investment:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nForeign investors, particularly from China and the United States, have been drawn to Toronto&#8217;s real estate market, seeking stable assets and potential profit. Their investments have further driven up prices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Low_interest_rates\"><\/span><b>3. Low interest rates:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nHistorically low interest rates have made it easier for individuals to borrow money to purchase homes, increasing housing affordability and driving up demand.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Speculation\"><\/span><b>4. Speculation:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nSpeculative buying, where investors purchase properties with the expectation of making capital gains, has contributed to the increase in housing prices. This behavior has intensified the competition for homes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"5_Lack_of_housing_options\"><\/span><b>5. Lack of housing options:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nToronto&#8217;s housing market is dominated by single-family homes and condos, with limited options for affordable rental units. This scarcity of diverse housing choices fuels price escalation.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"6_Government_regulations\"><\/span><b>6. Government regulations:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nCertain government policies, such as strict zoning regulations and slow approval processes, can limit the supply of new housing developments. These regulatory hurdles create a bottleneck and constrain the market.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"7_Urbanization\"><\/span><b>7. Urbanization:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nAs urbanization continues, many individuals seek the conveniences and opportunities offered by city living. This increased demand in urban centers, including Toronto, puts upward pressure on housing prices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"8_Economic_growth\"><\/span><b>8. Economic growth:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nToronto&#8217;s robust economy and job market attract talent from around the world, driving population growth and increasing the demand for housing in the city.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"9_Infrastructure_and_amenities\"><\/span><b>9. Infrastructure and amenities:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nToronto&#8217;s well-developed infrastructure, including public transportation, schools, healthcare facilities, and recreational amenities, makes it an attractive place to live, further fueling demand and housing prices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"10_Limited_land_availability\"><\/span><b>10. Limited land availability:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nToronto&#8217;s geographic location and limited land availability constrain the ability to expand housing supply, intensifying competition and driving prices higher.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"11_Income_disparity\"><\/span><b>11. Income disparity:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nWhile housing prices have risen rapidly, income levels have not kept pace for many Torontonians. This income disparity has resulted in challenges for first-time homebuyers and increased pressure on rental markets.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"12_Market_psychology\"><\/span><b>12. Market psychology:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nThe perception that housing prices will continue to rise fuels a fear of missing out on potential gains. This psychological factor drives individuals to enter the market and further contributes to price escalation.<\/p>\n<p>In conclusion, a multitude of factors converge to make housing prices in Toronto soar. The high demand for housing coupled with limited supply, foreign investment, low interest rates, speculative behavior, and government regulations all shape the real estate market. Additionally, urbanization, economic growth, infrastructure, limited land availability, income disparity, and market psychology further contribute to the high cost of housing in Canada&#8217;s largest city.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_FAQs\"><\/span>Frequently Asked Questions (FAQs)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"1_What_is_the_average_cost_of_a_house_in_Toronto\"><\/span>1. What is the average cost of a house in Toronto?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nThe average cost of a home in Toronto fluctuates over time but was around CAD 1 million as of July 2021.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Are_housing_prices_in_Toronto_still_rising\"><\/span>2. Are housing prices in Toronto still rising?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nYes, housing prices in Toronto have continued to rise, albeit with some fluctuations, due to the ongoing demand and limited supply.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Are_there_any_affordable_housing_options_in_Toronto\"><\/span>3. Are there any affordable housing options in Toronto?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nWhile Toronto does have some affordable housing options, they are limited, and low-income individuals and families often face challenges finding affordable homes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Can_the_government_intervene_to_lower_housing_prices\"><\/span>4. Can the government intervene to lower housing prices?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nThe government can implement policies to address housing affordability, such as increasing housing supply, introducing subsidies or incentives, and regulating speculation. However, finding the right balance to stabilize prices is a complex challenge.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"5_How_has_the_COVID-19_pandemic_affected_housing_prices_in_Toronto\"><\/span>5. How has the COVID-19 pandemic affected housing prices in Toronto?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nThe pandemic temporarily slowed down the housing market in early 2020. However, it rebounded quickly, with housing prices reaching new highs, driven by a combination of pent-up demand and low interest rates.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"6_Are_rental_prices_also_high_in_Toronto\"><\/span>6. Are rental prices also high in Toronto?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nYes, rental prices in Toronto are also considerably high due to demand outstripping supply.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"7_Can_first-time_homebuyers_afford_homes_in_Toronto\"><\/span>7. Can first-time homebuyers afford homes in Toronto?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nFirst-time homebuyers often face affordability challenges in Toronto&#8217;s housing market, particularly as prices continue to rise. However, government programs and incentives exist to support their home ownership goals.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"8_Are_there_any_up-and-coming_neighborhoods_with_more_affordable_housing\"><\/span>8. Are there any up-and-coming neighborhoods with more affordable housing?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nSome neighborhoods on the outskirts of Toronto, as well as areas undergoing revitalization, may offer comparatively more affordable housing options.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"9_How_have_mortgage_rules_affected_housing_prices_in_Toronto\"><\/span>9. How have mortgage rules affected housing prices in Toronto?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nTighter mortgage rules have aimed to cool down the housing market and limit excessive borrowing. However, they have not substantively impacted housing prices and may have even exacerbated affordability challenges for some.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"10_What_impact_does_immigration_have_on_housing_prices_in_Toronto\"><\/span>10. What impact does immigration have on housing prices in Toronto?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nHigh levels of immigration to Toronto contribute to population growth and increase the demand for housing, putting upward pressure on prices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"11_How_do_Torontos_housing_prices_compare_to_other_Canadian_cities\"><\/span>11. How do Toronto&#8217;s housing prices compare to other Canadian cities?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nToronto consistently ranks among the most expensive cities in Canada in terms of housing prices, surpassed only by Vancouver in recent years.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"12_Are_there_any_signs_of_housing_prices_stabilizing_in_Toronto\"><\/span>12. Are there any signs of housing prices stabilizing in Toronto?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nWhile there may be temporary fluctuations, given the ongoing demand, limited supply, and other contributing factors, it is unlikely that housing prices will stabilize significantly in the near future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Toronto, the largest city in Canada, has experienced a significant surge in housing prices over the past decade. This rapid increase has led many to wonder why Toronto&#8217;s real estate market has become so expensive. In this article, we will delve into the various factors contributing to the high housing prices in Toronto and address &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Why are housing prices so high in Toronto?\" class=\"read-more button\" href=\"https:\/\/namso-gen.co\/blog\/why-are-housing-prices-so-high-in-toronto\/#more-188006\">Read more<span class=\"screen-reader-text\">Why are housing prices so high in Toronto?<\/span><\/a><\/p>\n","protected":false},"author":48,"featured_media":107420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86279],"tags":[],"class_list":["post-188006","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-learn","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why are housing prices so high in Toronto?<\/title>\n<meta name=\"description\" content=\"Toronto, the largest city in Canada, has experienced a significant surge in housing prices over the past decade. 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