Toronto plans to overhaul zoning and housing approvals by early this year.
Residents in unsubsidized units will pay more so residents in subsidized units pay less.
In April, the average price for a home in Canada hit $723,500.
In the Greater Toronto Area, the detached housing market is hot while the market for apartments and condos is not.
The Agricultural Land Reserve accounts for 22 per cent of the land in Metro Vancouver.
Housing prices increased 111 per cent in Toronto and 82 per cent in Vancouver.
Between 2010 and 2019, home prices increased by 111 per cent in Toronto and 82 per cent in Vancouver.
Rising incomes and low interest rates have generated tremendous demand for housing across the country.