Toronto's shocking cost of living: How it compares globally
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- Опубликовано: 27 сен 2024
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Discover how expensive Toronto really is in comparison to global cities! Well take a look at cost of living and get to the crux of the matter: purchasing power, which is quite sobering. Let me know what you think in the comments! #toronto #canadaimmigration #costofliving #livingincanada
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Everyone knows Toronto is an expensive city including Vancouver. I’m not concerned about the rest of the world , only where I live and how cost of living was before Trudeau. It’s just crazy how much money you need to make just to be able to afford to live in cities like Toronto which has forced some people to move out of Toronto to smaller cities or towns.
You think voting in a Conservative government would decrease cost of living? If so, how? And why do less than 50% of eligible Canadians not vote in most recent Federal and provincial elections, if they are dissatisfied with their government?
@@rebeccasmith1008 How? Lower fuel taxes for one thing. This affects the supply chain on every level. The cost of producing & shipping every single item you buy at the store is affected by fuel & carbon taxes. This is a large contributor to price inflation. Trudeau sends billions to other countries with no economic purpose. This heavy & useless spending necessitates our high taxes. He also spends billions on useless domestic federal programs, grants, and subsidies--> more taxes--> higher prices. I don't have much trust in conservatives but they can't be worse than Trudeau.
The biggest factor is always missed in all of these lists.
That is Salaries. Canadian as well as Toronto salaries are 10 to 50 times lower than that of the cities and counties it gets compared to.
Then add higher taxes, Canadian salaries are the worst for the same type of job comparatively.
That's mentioned under purchasing power in the 3rd part of the video
@LivinginCanada Indeed, but I think that has to do more with CAD purchasing power.
My comment is specifically on how stagnant and low Canadian salaries have been for decades. Specifically when you factor in higer taxes and what you will be paid for the same position if you move just a bit to the south or east.
Portugal is a hidden gem in Europe.😊
Toronto is gorgeous, but VERY high maintenance!💲 😊
It's not really hidden. Portugal is also expensive for locals.
1/4th of people in Portugal earn 700 euros per month, which translates to about 9k/year with holiday pay and food allowance. Unless you're in a highly paid field such as Medicine or Engineering you will earn very close to this amount. If you are a foreigner you can have a regular job paying well but that's not true for locals at all.
Another good overview of the financial side of living in Canada. One point I would mention is the loss in the value of the Canadian Dollar in recent years. This makes imported goods much more expensive than in the USA or Singapore. Also, Canadian per capita GDP has stagnated since 2011 if you look at World Bank data, while prices went up all the time.
The best description of canada right now is its a 3 star hotel charging 5 star prices.
While it may be "cheaper" our salaries are generally low here that's the crux of the issue.
I think it's more than 3-stars, but whatever it is, it definitely charges beyond that!
@@LivinginCanada Hey, I found your second channel. I was wondering if you have a generic guide for people to move from a "typical 9-5" to something more entrepreneurial
yea, nobody ever looks at the accurate stats and does the math, if you do Toronto/vancouver are actually like number 3 worldwide, and Canada as a whole is actually the most expensive place to live in the world, or a close 2nd, if you adjust for median wages and the massive amount of income tax we pay.
Your facial expressions in your thumbnails are great!😂👍
Your followers appreciate your creativity.😊
I always take 5 or 6 photos, then try them out to see which best conveys the feeling 😂
@LivinginCanada That's awesome! 😂 PLEASE do a vid showing us all the pics and outtakes that didn't make the cut!!!... I bet it's super fun!😊
I think even Tokyo is cheaper than this Canuck village of Vancouver which would only rank as a tiny suburb compared to the size of US cities
This channel is so awesome 👌
The host is so refreshing and intelligent ❤
Glad you enjoyed it!
Salaries are lower in Toronto than in the US, that’s the main issue, Canada should be able to become as competitive as them to attract investors as well instead of letting the Real Estate bubble to burst.
Wages in New York for professionals are significantly higher than Toronto but there's another big point you miss with real estate anything within a 2-hour radius of Toronto is still very expensive I have a friend that lives in New Jersey with a better transportation system he's in Manhattan in 45 minutes and housing costs dropped significantly and he's still within a reasonable distance houses in Barrie are still over a million dollars and traveling to Toronto because of our poor infrastructure and antiquated subway system makes it less feasible
I like your videos! Keep doing unbiased videos! This makes you unique among all of the other RUclipsrs that tend to be so biased on their videos! Great job!
great vid as usual! I find it so funny that Mercer doesnt even take my country (and so many others) into consideration in its heat map... XD
Thanks! The heat map is from numbeo.com. Numbeo includes 400 countries, I think in it's data analysis. Mercer only covers 200-something since the purpose was to do research for companies sending expats abroad. Hope that clarifies!
While Zurich SUI may have a much higher cost of living index than Toronto, the average salary in that city is 100K CHF (149K CAD). Compared to the Toronto CA avg. salary of $62K you can see that they have far higher purchasing power than we do. Ironically enough after tax income is about the same at 76.4% in Zurich and 76.6% in Toronto.
You should make a video about Statscan Income Explorer for Toronto and major cities. You can see how you're faring in your cohort of city, gender, and age.
Thanks for the video idea, yes that's interesting too.
While the data showed great support to your video (and NYC is really expensive), what I would really look at is more of a long-term planning. In NYC or many parts of US, despite the cost of living is high, the 'average' income earners are actually saving towards their retirement. Whereas in big cities in Canada, I feel (I don't have data to support), those making median to median-high income (about top 20 - 40%) earners are nowhere near saving towards retirement.
I have that sense too, let me see, perhaps I'll make a video related to that some time!
Canada Greater Vancouver area average house price cad2.18M, which is much higher than Greater Toronto Area and any other cities round the world
That would be another video on which city has the most expensive housing
Just a heads up when you referenced Hamilton Bermuda you showed pictures of Hamilton island in Queensland Australia
Thanks for pointing that out, I didn't know Australia had such a nice island!
A useful analysis by an intelligent young woman.
Thanks!
Thanks for introducing me to LPP Index. 🙂
Your videos are always interesting. I'm gonna check for Montréal. I've been told that the hottest place in Canada right now is Calgary. Keep up the good work. n.b. : you should be cast in Denis's future projects. Your agent should send your portfolio to his agent. You never know.
Thank you!
@@LivinginCanada Bienvenue / You're welcome !
Love your content
Thanks!
Since last watching one of your videos I've moved "home" to Toronto from Melbourne after 5 years (8 altogether) overseas. I found earning AUD in Melbourne left me with worse purchasing power than earning CAD in Toronto. Just like you, I hesitate to even use the word "cheap" when talking about Toronto, but [most] things are definitely less expensive here. As much as those living in the Toronto or Canada bubble may not want to hear or believe. My salary is slightly better here, but I'm paying more for rent and for a lesser place. For me, the toughest pill to swallow is that compared to Melbourne, the cost of Toronto doesn't feel as worth it.
The cost of living of a city needs to be measured / compared to what the average income is.
I'm traveling to Toronto. Are credit cards accepted for transportation within the city? Or do I need to buy a ticket when getting on the subway or bus?
Thanks.
great vid
Thanks!
What a depressing place to live
Loss of rent control by Ford has made it impossible for things to ever improve in TO and the rest of Ontario
Which only applies to housing built after 2018.
nice video but i struggled very much with tables you literally flash, impossible to understand the context, you have to allow people to read at least briefly
I'll try to show them for longer next time!
Mam is your household income 150k dollars a year in Canada? Plz reply. Thanks a lot.
Not exactly, but somewhere around that!
I don't think she considers purchasing power.
Please watch the full video
These cost of living rankings are flawed because they don't account for local wages.
The latter part of the video shows purchasing power which does take that into account
what country did u born from before u come canada@@LivinginCanada
How expensive is Toronto? Too expensive
Hong kong
Mam what is your and your husband's profession in Canada? Plz reply. Thanks a lot.
thanks babe!
Almost first comment!
Totally agree with your analysis... I did something close to this several times over the years; and my conclusion was that taking into account the avg salary vs. cost; value for money (this is subjective related to the lifestyle you like)... Toronto is more expensive than NYC or San Francisco ... but when I was communicating this; not many people believed me :) ...
My conclusion as stated before: Toronto is totally overrated ... we are paying the price today for what it could be in 30 years ...
I will be in Europe this summer and probably Southeast Asia, we will see how things have changed there; but I am pretty sure it will seem afordable to me now I got used to Toronto non-sense ;)
Yeah, to make it worth it one really needs to find subjective value in it, because based purely on the numbers it doesn't work out that well. Hope you'll enjoy your new life!
If this doesn’t piss anyone off then idk what will. Greed is destroying us.
Not really. It's only destroying those who insist on living in the big city.
Singapore definitely is the most cost of living city.COE $80K only for 10 years.property condominium $2200 per SQF. 😅 but food prices are still reasonable,$10 you can get great meals with drinks .no tips required 😊
Is Trudeau sponsored you for this video asking for community?
Based on your stats, Toronto is affordable then
Toronto is cheap, but only when you are on the five-finger discount program.
Sydney Australia should be on top of your list.
Wow , Toronto is really inexpensive to live in. 😊
Soooooo putting the cost of living, including rent and purchasing power all together, where does that put Torontonians? And does this factor in taxes paid?
All together, it makes Torontonians slightly worse off than peasants during the black plague in Europe. Except those peasants only worked an average of 25 hours a week outside of harvest season.
You have to remember too that a one bedroom in Toronto is going to be bigger than a one bedroom in NYC or Tokyo. Tokyo is so huge that it might be cheaper but you are in a district nowhere near "Downtown".