> also can't afford a house or a middle-class life there.
So can you compare cost of living between NYC and Toronto and does the difference in median account for COL difference ?
Would be interesting to hear some first hand experiences from people who lived in both or similarly comparable US/Canadian cities. I was under the impression that Chinese investment in Canadian real estate really destroyed the housign market. I feel like the growing popularity of investing in residential real estate is a global phenomena but some markets are more exposed to some effects than others so it's possible to get some intuition on what impacts it.
I have lived in both. It's easier to afford a Canadian home, despite their price, especially in Montreal but even in Toronto, compared to NYC or SF, for the median person. The median household income in NYC is ~80k, vs ~95k in Toronto.
Sure, but on the other hand that's just as true for income in the US, the disparity in average income between major cities and the rest of the US is even sharper than it is in Canada.
Yeah, you're probably - in most regards, depending on various things - better off living in NYC than Toronto (having lived in both). But that's at least a conversation worth having, a comparison worth making. Comparing Canada to the poorest places in America like the person I was replying to was solely on the basis of average wealth only makes sense if you've never been within spitting distance of either.
So can you compare cost of living between NYC and Toronto and does the difference in median account for COL difference ?
Would be interesting to hear some first hand experiences from people who lived in both or similarly comparable US/Canadian cities. I was under the impression that Chinese investment in Canadian real estate really destroyed the housign market. I feel like the growing popularity of investing in residential real estate is a global phenomena but some markets are more exposed to some effects than others so it's possible to get some intuition on what impacts it.