noted a few months ago that more Canadians moved to Alberta than any other province in the first quarter of the year.
Those rents look particularly high in the context of average incomes in those cities for people aged 25 to 34. Statistics Canada’s most recent numbers show the average for that cohort is $51,600 for Toronto and $50,500 for Vancouver. Affordable rent gives you the financial space to start a Plan B fund for emergencies such as job loss or income interruption, start investing for long-term goals, spend some money on yourself and save for a home down payment. But in Toronto and Vancouver, affordable rentals are nearly as rare as well-played hockey games by their respective NHL franchises.
For that much, you can come close to the whole cost of average resale houses in several cities in Eastern Canada or cover more than half the cost of homes in Edmonton and Winnipeg.
Oh yeah, because everyone has the means to just uproot their entire lives and move. How about instead of being doomers about the living cost it we actually push for affordable housing.
Great reporting ;)
Treat it like an invasion of the rich. It's time to evacuate.
So f* sad
3!!
scumbag geriatrics had to get rich of Chinese $$$ rather than pass their homes onto their children and other Canadian kids. They are scum and sooner these geriatrics all drop dead, the better
OR we organize and pushback like the Freedom Convoy. Shut down the freeways, shut down the border, shut down the airports, etc. The Gov will get the message real quick.
this should be the 1 reason to throw the liberal_party out of power.
and go where?
It’s a sad state of affairs, but these 2 cities are horrendously expensive, and have been for a long time.
I wish I had never come back.
we did. tired of absurd house prices, traffic and bickering leaders. thing is, we didnt move to a small town. we left canada entirely.
libyanbourne And go where?!
- Government implements policies to increase housing by 500% - You shouldn't vote against these policies. You should leave.
never take financial advice government funded newspapers. 🤡🤡🤡
💯
yea cause the powers that be riddled these cities with fraud
It's going to start happening in every major city in Canada unfortunately. It's happening as we speak.
Please, stay the hell out of Alberta
shouldn't they be leaving because they fear being shot. or are they the ones shooting .. hardly a monetary issue
Leave Canada. One way or another they'll get you no matter where in Canada. Most corrupted and now most draconian country thanks to JT and Ford via Ottawa and teachers
People whom have grown up in Toronto and Vancouver have to leave everything they've known and their families so that Trudeau has somewhere to put the millions of immigrants he brings. That doesn't make sense or sound fair and just.
mase855 mhmmm
How does anyone living in Vancouver save money with the income tax (30 - 40%), sales tax (~12%), gratuity (~15%). My disposable income since moving out of Vancouver in is just income tax ~12% and rents are comparable.
And that is why the Liberals are increasing immigration to allow people from Hong Kong, where they paid little tax, like Iran, Korea, India, and Pakistan, to outbid Canadians, who pay huge Canadian taxes, to buy homes in Vancouver, and Toronto, the Globe, omitted that part.
Nope, if you want a career in the Banking industry for example, Toronto is the only place to be. You can say that about numerous industries. Whether people love or hate Toronto it has so much more opportunity for young people.
I don't even need to read this to know it's a horrifying take. Cities are both cultural hubs and economic engines. The issue in Canada is that we have turned them into museums to mediocrity with regressive zoning regulations
If I were young and not about to receive a massive inheritance and not a professional such as a high income type I would certainly be moving to lower cost of living locations.
And people still quibble over housing reforms.
Mine did….
Yet you want 500000 immigrants a year. WTF do you think that does to rent, you neoliberal hacks?
So just completely rinse these cities of art and culture then. Leave ‘em to the geriatric moneyed classes eh
Nah.
Lol how are these cities going to sustain themselves if all the young people leave?
Don’t worry! Trudeau and Freeland are sending $500! 🙄🙄🙄🙄🙄🙄🙄
Canadians shouldn’t have to leave their homes or cities to buy a home the globe and mail should be shutdown
Sure. That makes a ton of sense. You think grandma is going to serve coffee at Starbucks? Or uncle Joe gonna come out of retirement to work construction. What a stupid take
And leave Canada too.
Where will all the immigrants go ?
WouldStaley93 Or Canada all together.
Where do you suggest they move to?
That’s why they’re small towns.
The city politicians sold your future homes and condos to foreign investors for money storage and forever keep empty.
If we have any city that is close to Vancouver or Toronto in term for jobs and activities, i will leave in a heartbeat but we don't so I'm stuck between hight rent and unfriendly people.
To quote Bill Maher there is a reason people don’t live in small towns. It sucks.
Lol. Like that will really make that much of a difference...
A dystopic relocation incentive created by liberal_party, OSFICanada and bankofcanada. Honourable mention to provincial governments. Years of reckless policy and neglect created and maintained this housing crisis that is destroying our society and economy.
And curse them to flyover country?
MichaelRMateyk And vote properly
For the sake of our climate and economy, we need to wrest these cities from the grasp of their ossified NIMBYs and revive them as the vibrant, environmental and economic hubs they are.
Probably sound advice. Way way too expensive for housing here in Toronto.
Please leave so it is easier for us to take away your right to live.
vanreanalyst This is great advice to all those whiners! Leave to lower cost centers filled with opportunities like Calgary. Why just moan about unaffordability and the high cost of living, if you leave it makes it cheaper for the rest of us.
Or we could fight the Climate Crisis by encouraging Canadians to move to the major city in their province, reroute the billions we're currently using to subsidize the suburbs to public housing and let nature heal.
OH REALLY? /s
Ya and when we move away you will post another article telling us to move to the moon. PAY US MORE
And divorced people
Nope. I'm not going anywhere 😁
My first home was a whopping 45 mins drive from downtown TO. I was chastised by friends and family for buying so far away. But that’s all I could afford. Gains take sacrifice.
* should leave canada. Let the boomers rot. Im sure they'll find more immigrants to pay for their shit.
what kind of fn headline is this
So.. these cities are going to be sustained just by older people? That’s a viable solution?
And ontario because this a terrible place to live!
vanreanalyst Finally some truth... Living in TO and YVR is mostly a fetish by now. So many things are closing in Vancouver it isn't worth it anymore.
Sad.... but true.
Or Toronto & Vancouver can get their shit together so the middle class can still live there. How are the rich going to live in those cities with no one working minimum to middle wage jobs? No healthcare, no teachers, no fast food, no delivery, no city workers, etc
And go where?
🙄
And move to ✨Saskatoon✨
rcarrick Yes. Toronto is an affordability and quality of life hellscape for all but the 💰‘d class. People who can, should leave as soon as possible. All Canadians should warn every aspiring immigrant to look anywhere else but TO, VAN and 🇨🇦.
Nowhere else in Canada would pay $100k for basic VBA coding at a bank
They should leave Canada. Trudeau is flooding the country with people - in a housing crisis, with healthcare collapsing, and wages being suppressed. There is no future here for Canadians.