Existing home owners have seen dramatic increases in property tax rates

That is not an issue with property prices, however. That is the fault of city for not adjusting the mill rate to compensate for the rise in property prices. Or, if they really do need that extra money, taxes would have been going up anyway making this a moot point either way.

It also drives up rents which affects homelessness

Yes, we already covered people who rent in those cities. They are the less than 10%. Nobody is saying this group doesn't exist, we're just saying that they make up a tiny fraction of the Canadian population.

In turn, this puts pressure on businesses as they struggle to attract top talent due to a lack of affordable housing.

That's not an issue as they can, and have been, moving to where costs are more reasonable. It is no coincidence that the strongest job markets in Canada right now are in small town Canada, where housing is quite affordable.

In fact, Canada's recent economic growth has been specifically due to businesses moving to new places, requiring all kinds of secondary products and services to establish their new presence. This is the best thing that can happen to Canada.

Toronto drives Canada's economy

Well, Toronto certainly has a large population. The GDP per capita is rather underwhelming. I don't know if that is really an economy driver.