Here's a question for you. Have you purchased or are you renting a condo? If you are renting I'll give you something to consider. A condo in Toronto will cost roughly $1000/mo and up, plus condo fees. $120-$300. A mortgage on a 200,000 property is not a whole lot more than that.
Canadian mortgage insurance companies are now offering low, or no down payments on rental properties...ie, duplexes, triplexes and fourplexes. Depending on your situation, it might be worth thinking about doing this.
Interest rates are very good right now and are likely to drop considerably over the next few months.
Take a triplex for example. You take a unit for yourself, your tennants help pay the mortgage and utilities and 3 years from now, your property will likely be more valuable, your mortgage is paid down a bit and the property is yours. It might be hard while going to school, but it could potentially be alot cheaper than renting.
Oh yeah, first time homebuyers get a rebate of up to $2000 off of the land transfer tax on their first purchase.
The best part is...you'll have room for your Supra!