On the topic of rental supply, please consider this. We want more supply. We want to encourage it, not discourage it. Then consider, among the huge, *already-existing* pre-1991 housing stock (in Toronto and elsewhere), the many owners who would like to earn income by letting self-contained units in their houses, or even a second house. Were it possible for them to do so easily, there would be NO ten-year wait for renters to occupy these already-existing spaces. They could be on the market almost immediately. Why aren't they? Look no further than the oppressive rent controls that prevent potential landlords from becoming actual landlords. For one thing, they can't raise their rents by more than the cost of living without cutting through miles of red tape. For another, prohibitions against ending a lease for any but the extremest of reasons makes them quake in their boots.  

If rent controls on ALL properties, both post- AND pre-1991, were abolished, the shortage of supply would vanish.