CIBC Deputy Chief Economist Benjamin Tal was recently interviewed by Larysa Harapyn of the Financial Post about the state of the housing market in the Greater Toronto Area. The message he delivers is pretty clear: "If you think that Toronto is unaffordable now, you wait." The long-term fundamentals in this market remain strong. Demand is outstripping supply and will likely continue to do so, which is why Tal also stresses the importance of delivering more purpose-built rental housing. If you can't see the video above, click here. (And with that, I think it's time to switch topics for tomorrow's post. That's enough Toronto housing for one week.)