Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Yes everone in Toronto is living like a welfare case in a nice small box! We have heard this all before
Quote:
Originally Posted by johnathanc
When you compare the RE prices-to-income ratio as a city, Toronto and Vancouver are among the highest in the world. Our debt-to-income ratio is also higher than the US at this point. This implies that people have bid up real estate prices not because they have higher incomes due to economic prosperity but because they took out debt, which is exeptionally cheap right now with low interest rates. Plus we also have a lot of foreign money coming in to park/hide (particularly in Vancouver). During the past few years, a lot of money has flowed into Canadian dollars, bonds, and Real estate but I would prefer to see it come into our country in the form of investment, as this will really create long-term benefits and improve our living standards.
So yes, gentrification of many areas of Toronto have occurred and will continue to occur but a lot of these so-called gentrifyers are in over their heads and have signed on to become house poor. I personally wish Carney and Flaherty did even more to stop real estate speculation but they tried several times and it appears to be cooling down now which is good. Vancouver arguably is in a tougher rut because not only is the cost of living is warped for the middleclass but now it is too expensive for new businesses to operate, hence perpetrating a cycle of stagnant growth.
Quote:
Originally Posted by TOkidd
"^^^^ I don't believe that at all. I think gentrification in Toronto is proportionately almost as intense in Toronto as in New York, and the scale proportionately as large. Housing prices may be somewhat lower in Toronto, but it's all relative, because New York has some of the most expensive housing prices in the world. Toronto's housing prices are still higher than most large cities in the our Hemisphere. Just look at the listings for old Toronto: unrenovated 2.5-bedroom semis in less-than-great areas listing for $600,000 + and then selling for $700,000 / $750,000. I see it all the time because I'm looking to move back into the city.
I also don't know what being "truly world class" has to do with gentrification. It affects many cities, and Toronto is being very hard hit. I certainly no plenty of Restaurants where you dont have to pay 30 dollars for an entree....ya just gotta know where to go and how to live. Too much sensationalism in here
I've already stated that my real problem with gentrification is that middle class working families - the heart and soul of every city - simply cant afford to live in most of Toronto anymore and have decamped to the suburbs. As a result, what remains are the wealthy and the poor, with not so much in between any more. In just 10 years, most major Old Toronto middle-class bastions have been overrun and overpriced, so that even Riverdale, Parkdale, Junction Triangle and Wallace Emerson, Little Portugal and the area around CAMH have all become unaffordable to young middle-class working families and individuals.
I don't care that New York is has "truly world class" gentrification compared to Toronto - the effects are the same."
The highlighted passage quoted by fusion2 was not in my original post. Where did that come from?
Lol i concur you are correct i was actually trying to quote you using my tablet and half my message ended up in yor original post! My computer is being repaired sorry for the confusion it was not meant to misquoute you an is indeed my message i miss my computer :-( i deleted it btw i wondered where half my message went too funny
Quote:
Originally Posted by TOkidd
Quote:
Originally Posted by TOkidd
"^^^^ I don't believe that at all. I think gentrification in Toronto is proportionately almost as intense in Toronto as in New York, and the scale proportionately as large. Housing prices may be somewhat lower in Toronto, but it's all relative, because New York has some of the most expensive housing prices in the world. Toronto's housing prices are still higher than most large cities in the our Hemisphere. Just look at the listings for old Toronto: unrenovated 2.5-bedroom semis in less-than-great areas listing for $600,000 + and then selling for $700,000 / $750,000. I see it all the time because I'm looking to move back into the city.
I also don't know what being "truly world class" has to do with gentrification. It affects many cities, and Toronto is being very hard hit. I certainly no plenty of Restaurants where you dont have to pay 30 dollars for an entree....ya just gotta know where to go and how to live. Too much sensationalism in here
I've already stated that my real problem with gentrification is that middle class working families - the heart and soul of every city - simply cant afford to live in most of Toronto anymore and have decamped to the suburbs. As a result, what remains are the wealthy and the poor, with not so much in between any more. In just 10 years, most major Old Toronto middle-class bastions have been overrun and overpriced, so that even Riverdale, Parkdale, Junction Triangle and Wallace Emerson, Little Portugal and the area around CAMH have all become unaffordable to young middle-class working families and individuals.
I don't care that New York is has "truly world class" gentrification compared to Toronto - the effects are the same."
The highlighted passage quoted by fusion2 was not in my original post. Where did that come from?
I dont find things that expensive for one who rents. I rent a 1 bdrm apt with parking spot for 1050 per month and im a ten minute walk from the Eaton Centre. I have a car payent on top of that with plenty of money to spare and I only make 70k per year.
It's true that there are some affordable rentals available in the city, but not many good ones and they are increasingly hard to find. But for those looking to buy, most of Toronto is incredibly overpriced. And good food is not cheap. There are some exceptions, but not many. And that is true in general for gentrification in this city - there are some exceptions to the overall trend, but they are getting more and more uncommon.
Another example - when I moved to the city in '99, TTC fares were $2 and are now $3. In just over ten years fare prices increased 50% (I think fare prices began increasing in 2001, and hit $3 in 2012). That hits middle-class families hard, never mind what it does to the poor. Food prices at the grocery store have increased up to 50% for some products and on average 30%-40% compared to just seven years ago. My weekly grocery bill went from being $100 in 2007 to $150 for the same items now. But as we all know, wages have not kept pace and available jobs for young people are scarce and low-paying.
Improving a city's livability and quality of life doesn't not have to equal gentrification of the kind we've seen, which is driven primarily by greed in the real estate industry and developers who have no interest in building affordable housing for renters and have done more than anyone to push housing prices to their current levels in the city.
These are just a few examples of how gentrification and an overall increase in the cost of living it the city is putting the squeeze on middle class folk like myself.
Actually i love my place and would take it over a nicer one in the burbs for the lifestyle! But yeah you pay a bit of a premium to live in a great location! Toronto is expensive to own a home for sure which is why i rent and this way i get to invest plus travel! When im home i live in the heart of the city with plenty of entertainment options! lol good food is not cheap lord have mercy what do you guys want? Isnt Nyc or Chicago pricey for quote unquote good food? Toronto isnt a provincial city anymore and there are few cities that are better to live in north america than Toronto sure it is cheaper to live in Des Moines Iowa but you live in Des Moines Iowa!
Anyway i like cheap ethnic food yummy!
Quote:
Originally Posted by TOkidd
It's true that there are some affordable rentals available in the city, but not many good ones and they are increasingly hard to find. But for those looking to buy, most of Toronto is incredibly overpriced. And good food is not cheap. There are some exceptions, but not many. And that is true in general for gentrification in this city - there are some exceptions to trend, but they are getting more and more uncommon.
Toronto's Latin American population is more South American than anything else.
According to Michael Ornstein at York U., 73% of those of Latin Americans in the Toronto CMA said they were visible minorities in 2001. Assuming the same was true in 2006, that means the Latin American population in Toronto is closer to 4%. It's dwarfed by any major US city of course but they're a fairly sizeable group and the Latin American population we do have is quite diverse and no group dominates.
BTW there is no "Spanish" box to tick off. Ancestry and ethnic origins are write-in responses. "Latin American" is considered a "visible minority" group - which makes no sense given that Latin Americans can be of any race!
Toronto's Latin American population is more South American than anything else.
According to Michael Ornstein at York U., 73% of those of Latin Americans in the Toronto CMA said they were visible minorities in 2001. Assuming the same was true in 2006, that means the Latin American population in Toronto is closer to 4%. It's dwarfed by any major US city of course but they're a fairly sizeable group and the Latin American population we do have is quite diverse and no group dominates.
BTW there is no "Spanish" box to tick off. Ancestry and ethnic origins are write-in responses. "Latin American" is considered a "visible minority" group - which makes no sense given that Latin Americans can be of any race!
Don't forget the many Latin Americans who live in the burbs! Like me (at least for the time being).
What are you going to do though isnt it too expensive to live Dt and what are you going to eat?
Quote:
Originally Posted by TOkidd
Don't forget the many Latin Americans who live in the burbs! Like me (at least for the time being).
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
