Cabbagetown houses took off. There was a time they were attainable, still pricey for me but attainable. Now? For the type of house I want? Not a chance...and that's with 2 high paying incomes. I'm not one of those people who feels I'm owed a house, but $800K budget doesn't get you very far.I'm glad I was born a Gen Xer, born 1971. Benefited from OSAP grants before they were canceled and replaced by pricey loans. Had no problem landing a job when I graduated university in 1995 in my chosen field (international sales). Houses weren't too pricey, in 1998 our semi in Cabbagetown was under $300K, or about 4X our family pre-tax income of the time.
I can't imagine trying to buy a CT house today, assuming two good jobs paying $70K or thereabouts, a house even like my old semi (no parking, no insulation, etc...) would be >7X ones' family pre-tax income. Maybe that's where the bubble will begin, but I don't see my house dropping to anything near its pre-2000 value. As for my kids, they'll be fine, though I wish I'd bought them both a condo as rental years ago.