Toronto - dont be in denial like Vancouver was for years and let vested interests set the agenda.  Toronto and Seattle's house prices exploded when the Foreign Buyer Tax was put into Vancouver.  It doesnt take a rocket scientist to figure out what happened and yet you will be told its millenials, low borrowing rates etc as a smoke-screen, because too many people close to politicians make serious money when property prices increase.

There will be crocodile tears, but nothing will impact until you deter global capital from being parked in your neighbourhoods.