This is just a strategically orchestrated manipulative effort by politicians at the Municipal, Provincial and Federal Level, the Canadian Media (Globe, Financial Post, CBC) and the Big 5 Banks to create fear and anxiety among home owners to list their homes.  The underlying problem has ALWAYS been supply in the GTA - something that politicians at all levels accepted - and Wynne's housing affordability platform in April served its purpose of instilling anxiety in home owners/speculators to boost supply. 

If one took a snapshot of all the inv. available for sale in late March, there was only 3 weeks of inventory available for sale across the GTA  - something the greedy banks undeniably would have known as eventually their mortgage business would have dried up completely.  Fundamentally nothing has changed and nothing will change as long as sellers don't buy into this doom and gloom apocalypse propagated by the aforementioned parties above and greedy agents don't push sellers to list.