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>> in the Financial District, because the people there earn $70,000 or $80,000 not $800,000 or $8,000,000 as in NYC/London. Uh, that is way, way off. A person
by carterehsmith 10y ago
>> in the Financial District, because the people there earn $70,000 or $80,000 not $800,000 or $8,000,000 as in NYC/London.
Uh, that is way, way off. A person making 70-80K/year in Toronto Financial district is like... junior analyst, junior software developer or so.
That person is not going to make 10X or 100X as much in NYC or London.
- eigenvector 10y agoMy point is that the 10x and 100x jobs simply don't exist in any significant quantity in Toronto, and that's why it's not reasonable to say Toronto's housing market should mirror Manhattan's.
- carterehsmith 10y agoSure. But then, Google "Most expensive homes in NYC" (result: $72M-$120M) vs ""Most expensive homes in Toronto" (result $14.8M-$27.5M) I guess it is clear that most expensive homes in Toronto are not even close to most expensive homes in NYC.
- orbitur 10y agoI think the median would be more relevant, since it seems that's what is shifting upward in Toronto.
- carterehsmith 10y agoOK, can you provide a comparison of median prices growth Toronto vs NYC? But make sure you also index that with median salary growth TO vs NYC. And also, you need to take into account CAD vs USD over the time period. So... not easy.