Toronto needs to build more condos - its the only way to address the housing issue - currently the GTA consumes over half of Canada's immigrants (about 150,000) people, add to that another 100,000 people who come to the area from other parts of Canada, then add to that the demolition of all the old stock of apartment buildings (1960s) and when you add the numbers - you need about 300 to 350 new towers per year just to keep up with these increases. Building towers is the only way to deal with the housing issue in the GTA from a long term perspective.  As a note I always find it humorous that a government's answer to any problem is to add more tax - rather than to find a real solution to the issue.