The narrative surrounding Toronto's housing market is shifting from a supply crisis to an affordability crisis. Traditionally, the rule of thumb for housing expenses has been that individuals should spend about 30% of their take-home pay on shelter, whether through rent or mortgage payments. However, this benchmark has been significantly exceeded in recent years. In Toronto, the median rent for a one-bedroom apartment now consumes approximately 80% of the average take-home pay, leaving little room for other essential expenses.