I think it's important to remember this. Toronto gets approximately 100,000 new citizens every year. These are people who want to come, and they're at the household formation stage. They want to get into the housing market. In fact, you're not seeing 100,000 new houses brought on year over year, so you're getting that disconnect between what is available on the supply side and the increased demand solely as the result of people moving into a community. Then you overlay that with the fact that people are urbanizing; they want to remain closer to the downtown core and not deal with the commutes that they deal with in some cities.
I think you have that collision between supply and demand.