71–80 of 217 posts
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It may be the point for Google , but not for Toronto citizens , who surely want a better city more than they want to be a science experiment. I'd say the usage is purposeful and correct.
Any new idea has to start somewhere. We'll eternally stay at local maxima without experimentation.
As someone that lives in Toronto and is moving out in the middle of the month to go back home near family. The idea that Toronto is going to focus on "affordability" is laughable. It's one of the most expensive cities to live in in the world, and the incompetent city council, mayor and all the way up to the provincial government are doing absolutely everything they can to keep it that way - mostly without even realiz…
Like what is a city which is well functioning, where the citizens like the government?
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>> Feel sorry for the kids who finish a degree in STEM from Waterloo or UoT and end up working for 40k a year. The starting salary for STEM grads seem to be well above 40K CAD, perhaps even >65K CAD [1]. >> A down payment on a Toronto house should take 24 years to accumulate When you pair your linked article with the fact that the GTA has experienced net-positive population growth every single year since 1971[1] then…
>If a new grad wants a starter property in the city then perhaps start with the purchase of a studio/1-bed. This lacks the history on what people used to be able to purchase, not just in Toronto but in all of Southern Ontario, and now even as far away as the Maritimes. The purchasing power for the average Canadian to afford things that actually mater (like housing), is dropping like crazy. Allow me to give you my own…
I remember the frenzy of the '89 housing bubble & early 90's bust especially in Toronto when mortgage interest rates were in the low teens and everybody and their dog was flipping property. The subsequent crash was painful but also allowed new families to get into a more affordable market.
I stand by my comment that it's still possible to buy something for a new family even if it's smaller than what they grew up with. The driver for the reduced affordability is, as you eloquently noted, because of our very liberal immigration policy that allows for continued regional growth coupled with low interest rates.
If you're a homeowner, you want the value of your property to continue to rise. But then this crowds out a younger demographic looking to purchase their first starter properties (condos or houses). We can't have it both ways.
As someone that lives in Toronto and is moving out in the middle of the month to go back home near family. The idea that Toronto is going to focus on "affordability" is laughable. It's one of the most expensive cities to live in in the world, and the incompetent city council, mayor and all the way up to the provincial government are doing absolutely everything they can to keep it that way - mostly without even realiz…
The Fed Gov and BoC have no choice but to keep interest rates at zero and continue to play with numbers to keep the ponzi going so the whole Country doesn't collapse. You also have to take into consideration that there is no where else to find any work but in the big cities. The whole damn situation is a mess with no way out. Feel sorry for the kids who finish a degree in STEM from Waterloo or UoT and end up working…
Also, Sentry is hiring in Toronto: https://sentry.io/jobs.
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>> Feel sorry for the kids who finish a degree in STEM from Waterloo or UoT and end up working for 40k a year. The starting salary for STEM grads seem to be well above 40K CAD, perhaps even >65K CAD [1]. >> A down payment on a Toronto house should take 24 years to accumulate When you pair your linked article with the fact that the GTA has experienced net-positive population growth every single year since 1971[1] then…
>If a new grad wants a starter property in the city then perhaps start with the purchase of a studio/1-bed. This lacks the history on what people used to be able to purchase, not just in Toronto but in all of Southern Ontario, and now even as far away as the Maritimes. The purchasing power for the average Canadian to afford things that actually mater (like housing), is dropping like crazy. Allow me to give you my own…
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> Toronto has a history of planning to do something with its waterfront (Port Lands / Quayside etc) Besides the fact that a brand new island is being built: * https://portlandsto.ca/construction/ * https://en.wikipedia.org/wiki/Villiers_Island > Enjoy this article about a monorail - from 2011. How many people took Doug Ford seriously about anything?
*Rob Ford
Though his brother Doug, the current premiere of Ontario, isn't that much better.
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>If a new grad wants a starter property in the city then perhaps start with the purchase of a studio/1-bed. This lacks the history on what people used to be able to purchase, not just in Toronto but in all of Southern Ontario, and now even as far away as the Maritimes. The purchasing power for the average Canadian to afford things that actually mater (like housing), is dropping like crazy. Allow me to give you my own…
Is 1% immigration per year a lot?
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The Fed Gov and BoC have no choice but to keep interest rates at zero and continue to play with numbers to keep the ponzi going so the whole Country doesn't collapse. You also have to take into consideration that there is no where else to find any work but in the big cities. The whole damn situation is a mess with no way out. Feel sorry for the kids who finish a degree in STEM from Waterloo or UoT and end up working…
"A down payment on a Toronto house should take 24 years to accumulate", reading the article this seems to be based on a severe case of dyscalculia. If the apartment costs 1 million and you want to save until you have 6% (which is 60k), and you only save 10% of your annual 170k salary, meaning you save 17k per year so after 3 years plus you have the down-payment. In addition to proper math one also should probably sav…
Here are the top 10 migrant sources:
Philippines
India
China
Iran
Pakistan
United States
Syria
United Kingdom
France
South Korea
Migrants from the poorer countries on this list are moving to Canada to undercut the wages and conditions of local workers, whilst driving up the cost of housing and increasing congestion for infrastructure and Government services.
Meanwhile, the most common response for Canadians when asked about immigration is that they want it reduced.
It seems like the entire Anglosphere - USA, UK, Canada, Australia, NZ - has lost control of its borders, and the populace is now being completely sold out - for the benefit of capitalists and landowners.
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Is 1% immigration per year a lot?
Yes, this is extremely high. It is an exponential growth curve, not linear. What would that growth be after 25 years of constant 1% growth/year?
1.01^25 = 1.282 or 28.2% growth. Sounds like a good bet to try to grow economic activity in the region if the immigrants are typically educated and are net-positive contributors.
Canada's total fertility rate (TFR) is 1.47[1] which is well below the natural replacement rate of 2.1. I'm not blindly advocating that we grow at any cost, but it's important to note that as bad as the job situation seems to be across the country today, it feels like it would be much worse if our population continues to shrink indefinitely.
Japan's stagnation over the past couple of decades seems to be one possible path that would have awaited us if Canada hadn't take steps to increase the population.
[1] https://www150.statcan.gc.ca/n1/daily-quotidien/200929/dq200...