Is the Toronto market going crazy?

[Cindy Shen]

So I moved back to Toronto to take care of my various real estate strategies/assets/companies, and of course I reviewed all the products we do - flipping, multifamily, buy and hold etc. My jaw really dropped - a 7900 sq condo near where I live in downtown (new construction) is selling for 1 million; when I look at my flipping pipeline, there are only 3 areas in Toronto core that have properties under 1 million; and multifamily buildings are all over 200k per unit in areas we usually buy outside of Toronto...should I be really worried?