And it's happened in every major city in the world for ages.
It's unfortunate, but a reality of capitalism and supply and demand.
They can move 40 minutes north of TO where I live and get very nice digs for a very reasonable price. 
If they live in the East, they can buy a transit pass; to get to the city if they live the West, you'll need a car as transit sucks in the north-west of GTA.
It's solvable.