TheTigerMaster
Superstar
Canada also has this winter thing.
So does most of the United States.
Canada also has this winter thing.
No, desirability argument can be used for one particular country, but you can't apply it across countries. Therefore, Toronto being more expensive than Chicago means nothing for desirability. Why? Americans who don't find Chicago desirable can simply move to LA or NYC, but those who don't like Toronto can't simply move to Chicago, because it is in a different country. There is something called "immigration" not so different from say a Portuguese moving to the US.
What's immigration? You drive to the Ambassador Bridge, tell them you're going through Michigan to Manitoba and the next day you're in LA. My best friend did this six years ago and he hasn't come back.
But if we're talking legally working in the US, you are forgetting the NAFTA visa, which lets Canadians move to and work in the US without immigrating, if they are in the right field. It's not like someone from Portugal at all. A relative of mine is working as an ER nurse in South Carolina right now. She got the offer at a job recruitment fair in Toronto and had the visa two weeks later.
Just a theory...
If we take NYC out of the equation (because it is in a league of its own) is it possible that lower housing costs in other major cities like Chicago could be a result of a more extensive subway/transit system? In other words, people in Toronto are paying a premium to be on or near the scant mass transit system we have and so it is a basic economic issue of low supply and high demand, whch may artificially drive up the cost of housing.
Agreed, but perhaps there is more than one reason? Does the impact of foreign investment account for the half million price tag of a 900 SF semi-detached bungalow near the Danforth for example (and one that has no land and needs massive renovation, to boot)?
Agreed, but perhaps there is more than one reason? Does the impact of foreign investment account for the half million price tag of a 900 SF semi-detached bungalow near the Danforth for example (and one that has no land and needs massive renovation, to boot)?
And why are you making blanket statements about all Canadian cities? We're talking about Toronto here. I'm fairly certain Halifax is cheaper than Chicago, for example.
I don't think so. Housing costs in the suburbs are high as well, with their scant mass transit. The high housing prices in Toronto is more a function of wealthy foreign investors deciding to park their money in Toronto real estate as it is a safe investment at this time.
Guess I'm part of the brain drain. As a 30 yr old professional, born & raised in Toronto, I moved to LA for work (multinational corp) 2.5 years ago. From my experience so far, I'll find it hard to return back as the advantages far outweigh the cons. My income tax rate is about the same (yay california!)...however the dollar definitely goes a lot further down here. Retail taxes are lower, clothing and other wants are cheaper, eating out is cheaper on average, gas is cheaper, and so on and so forth. Rental prices are comparable though (if you stay on the highly desirable westside of LA...in comparison to downtown TO). The biggest factor though is there just is a LOT more capital flowing through here, and that makes a HUGE difference if your above average and really want to make a good living for yourself. Plus business risk taking is part of the US culture, whereas it feels like our Canadian clients are penny pinching grandmas. Oh and winters in a tshirt. Enough said.
I think Toronto still has quite the growing up to do - definitely excited to see where it is 15-20 years from now.
I heard LA is the shit. I wanna visit sometime.