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It's still relatively true. A $400k home is only cheap in comparison to a $2M home. That's quite a lot compared to the average laborer's wages. Maybe if those h
by imgabe 5y ago
It's still relatively true. A $400k home is only cheap in comparison to a $2M home. That's quite a lot compared to the average laborer's wages. Maybe if those homes were $200k, the homes in the pricier area would be only $1M (not exactly obviously). $400k to live with an hour commute is not that great a deal IMO.
- Waterluvian 5y agoMy point is that the people who build the houses do not live within the same order of magnitude market. And yeah, commuting is nonsense. I’ll never ever do it.
- imgabe 5y agoRight, but the costs in their market are still going to be affected by the high prices in the market where they work. It’s not feasible for them to live far enough away to escape the influence. Houses an hour from Toronto are still going to be more expensive because they’re an hour from Toronto and people can work there at higher paying jobs (but not enough to afford the $2M house in the city) and it’s worth it with the commute. The high prices in the city are going to drive up prices everywhere within commuting distance.