"If you cannot afford a house in Toronto then go get one where you can."

^Here is the next cliche.

First, certain jobs only exist in some places. Oil patch jobs are best found in Alberta, fisheries jobs are best found on the coasts, etc. Many high level jobs related to finance, science, law, engineering, etc. only exist in major urban centres - and often specifically in places like Toronto and Vancouver. It's those places or bust for Canada.

Which brings the second point: brain drain. People with skills will leave. E.g. A medical specialist, with skills that Toronto or Vancouver needs, doesn't have to put up with this. And they will go. Maybe this is still sinking in in TO, but in Vancouver, it is a fact that private sector leaders behind the scenes are increasingly freaking out about their inability to attract or retain talent. Being blasé about the difficulties that young people have starting families, securing homes, etc. is much riskier than some realize.