I live in Toronto, I own real estate but not in the city (largely because I cannot afford to buy). I've invested in income property a few hours out of Toronto in a small town that produces positive cash flow that I reinvest in the stock market. I rent a small, shitty apartment in the city. This has ended up giving me returns of excess of 60% per year on the money that I've invested. I'm always amazed at how overlooked this strategy is.