Today in news that should surprise absolutely nobody who follows economic trends, Toronto's housing market was once again deemed "severely unaffordable" by a major international research firm.

The Frontier Centre for Public Policy has released its 15th annual Demographia International Housing Affordability Survey, in which 309 metropolitan areas across eight different countries with more than 2 million residents are ranked by their costs of living.

Last year at this time, Toronto had shot up seven places from 28th to 21stamidst a red hot housing market and widespread bubble-related worries.

This year, we rose another nine spots to tie with London in 10th place, making Toronto more expensive than New York, Miami, Brisbane, Seattle, Boston, Las Vegas and every other major American city except for Los Angeles and San Francisco.

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