Three-bedroom madness

[MidTowner]

There's also the fact that detached homes are significantly more expensive than condos. I can't imagine many people would prefer to live in a 3 bedroom condo compared to a detached house if the prices were comparable.

Hard to say since there are very few three bedroom condos.

I just did a quick search on realtor.ca filtering for three bedroom apartment-style condos. Very little available. Downtown, there are only two plus den units, all listed in the $600,000-$800,000 range. In Waterloo there are actual three bedroom apartments, but few and expensive: one at Seagram Lofts listed at $1.3 million; one at Red (1850 square feet) listed at $1.55 million; one at 144 Park listed at $900,000.