Bring on the tax, it will not lower prices. People need to realize Toronto real estate was undervalued. Where else in the world are the majority of homes detached with a back yard in the countries greatest metropolitan center? England - no, U.S - no, Japan - no, so on and so on. Toronto is one of the worlds newest metropolitan cities. The infrastructure is significantly better and more refined allowing the city to be built on a much better foundation. People want this, and when you consider global warming where else would you rather be, in 20 years Algonquin is going to be a paradise with less then half a month of cold weather total in a year as published by the government of Canada.