Your're in Toronto? Isn't Toronto, along with Vancouver, one of the two Canadian cities worst affected by the real estate boom? I have relatives in Vancouver and they told me that quite ordinary houses in the Vancouver Metropolitan Area cost seven figures at present. We also have Love it or List it Vancouver on television here. The situation is making it impossible for the young generation to stay in Vancouver once they graduate from college. I have seven second cousins there, in high school, in college or recently graduated. All the independent ones have moved out. One lives in Montreal, another is in the petroleum industry in Alberta and one is a geology major, and probably will relocate to another province, too.
RE: How the next recession may unfold