The more floors allowed in new projects, the more feasible they become.
Over the last 12 months, apartment building completions in Toronto reached a 25-year high.
Vancouver-area home prices are almost 65 per cent higher than five years ago.
Average rent prices in the GTA rose 4.9 per cent over the last year.
In the Greater Toronto Area, monthly rents rose by $63, on average.
City hall can reduce the cost of building new apartments on expensive lots by zoning for greater density.
The imbalance between the number of available units and the number of would-be renters drives up rents.