Comment: Totally agree but something must be done to bring down the housing market before it collapses on it own sword. A 33 percent gain in one year  is way, way, way out of control, clearly their is an issue. A healthy housing market sees modest yearly gains that stays inline with income.
 Houses are places that people raise family's and live their lives, turning people into mortgage slaves so unscrupulous parasites can profit is immoral and should be made illegal. 
Once the property tax is adjusted to meet new home values the weight of home ownership will cripple Toronto -  just  as the bandits make off with their profits.