Unintended consequence ? Young people in Ontario will have trouble getting married and have kids at all.  Living in small spaces, share apartments, rent skyhigh, evictions (oh that famous N12 form, landlords need space for their family), daycare....where do you put the kids?
Just have to look at Japan, it's happening: lower and lower marriage, less less kids.  What's happening in Japan is also law having changed quickly after Chinese bought a mountain !
Comparing real estate here with other global cities? other global cities don't have such sky high income tax, consumption tax, gas.  Think Singapore is more expensive?  here is poorer after taxes...