Re: "Insane Pricing"
Ontario and more specifically Toronto has some of the highest tax rates in North America on new housing - and will have the highest tax rates once HST is implemented. These prices are not "insane" and are a reflection of the tax environment, land supply, labour and materials.
If you think these prices are bad, wait until the HST comes into play next year and Toronto's new development charges increases (bascially doubling) are phased in over the next couple of years once the freeze is lifted.
For many new homes and condos in the Toronto the sales tax alone would be:
13% HST
2% Provincial Land Transfer Tax (phased in rate)
2% Toronto Land Transfer Tax (phased in rate)
On a $500,000 new home/condo (basically a downtown middle class two bedroom condo) the sales taxes would cumulate to an additional $77,200 in sales/land transfer taxes.