As prices sink, Toronto condos have returned to 2019 affordability levels, according to a new report from RBC Economics. “Condo prices in Toronto have fallen faster than most other markets, and that is happening while incomes have continued to rise,” said Rachel Battaglia, an economist with RBC Economics, and co-author of the report. Condos in Montreal are now less affordable than ones in Toronto, a “reshuffling” of the markets for the first time in over a decade, Battaglia added.