Toronto is definitely cheaper than NYC. However Toronto represents a WAYYYY higher percentage of Canadians than NY does.
Rough numbers.
GTA population ~7 million
NYC population ~8.5 million
By representation GTA represents 10x the amount of the country that NYC does.
Major cities being unaffordable in Canada pretty much means Canada is unaffordable.
The same case is not true in the US
[0]: https://en.wikipedia.org/wiki/Toronto
[1]: https://en.wikipedia.org/wiki/Demographics_of_New_York_City
Edit: actually I take that back the metropolitan NY area seems to encompass a much larger area than the GTA and goes across multiple states.
Toronto is definitely cheaper than NYC. However Toronto represents a WAYYYY higher percentage of Canadians than NY does.
Rough numbers.
GTA population ~7 million
NYC population ~8.5 million
By representation GTA represents 10x the amount of the country that NYC does.
Major cities being unaffordable in Canada pretty much means Canada is unaffordable.
The same case is not true in the US