Alternatively, Canadians could just move South and settle in US. I left Canada to relocate in SF and in the process of moving to Seattle.  

The problem has more to do with salaries than housing price. In SF, Housing prices are more insane, but salaries for Tech in specialized fields exceeds $300k+, which is unheard of in Toronto. Even pulling a $150k in Toronto or Vancouver is a massive stretch. 

I work in Tech and checked out opportunities in Toronto recently, and the salaries that I was offered was hilarious. Infact, I made more money 6 yrs ago as a fresh grad when I moved to SF. 

For Torontonians, Boston is an excellent choice. Very affordable housing with 2x Toronto salaries. I have been telling my fellow Canadians to just move South.