Toronto's shocking cost of living: How it compares globally

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Toronto's shocking cost of living: How it compares globally

Рет қаралды 10,465

Living in Canada

Күн бұрын

Пікірлер: 81

@wesbrown738 3 ай бұрын

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.

@LivinginCanada 3 ай бұрын

I think it's more than 3-stars, but whatever it is, it definitely charges beyond that!

@wesbrown738 3 ай бұрын

@@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

@lekkai7473 Ай бұрын

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.

@anonymousanonymously8216 3 ай бұрын

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.

@rebeccasmith1008 2 ай бұрын

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?

@MultiSoccerMan Ай бұрын

@@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.

@goldbergful 3 ай бұрын

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.

@LivinginCanada 3 ай бұрын

That's mentioned under purchasing power in the 3rd part of the video

@goldbergful 3 ай бұрын

@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.

@UAuaUAuaUA 3 ай бұрын

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.

@JayB-JayB 3 ай бұрын

Portugal is a hidden gem in Europe.😊 Toronto is gorgeous, but VERY high maintenance!💲 😊

@MrIngeho 3 ай бұрын

It's not really hidden. Portugal is also expensive for locals.

@jorgevaladas788 3 ай бұрын

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.

@aselvais 3 ай бұрын

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 ;)

@LivinginCanada 3 ай бұрын

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!

@JayB-JayB 3 ай бұрын

Your facial expressions in your thumbnails are great!😂👍 Your followers appreciate your creativity.😊

@LivinginCanada 3 ай бұрын

I always take 5 or 6 photos, then try them out to see which best conveys the feeling 😂

@JayB-JayB 3 ай бұрын

@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!😊

@goldguilder9554 3 ай бұрын

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

@JayB-JayB 3 ай бұрын

This channel is so awesome 👌 The host is so refreshing and intelligent ❤

@LivinginCanada 3 ай бұрын

Glad you enjoyed it!

@KrlosF 3 ай бұрын

I like your videos! Keep doing unbiased videos! This makes you unique among all of the other KZfaqrs that tend to be so biased on their videos! Great job!

@amegallioz 3 ай бұрын

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.

@anthonym9130 3 ай бұрын

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

@fantasyguru26 3 ай бұрын

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.

@yadymp5507 3 ай бұрын

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

@LivinginCanada 3 ай бұрын

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!

@Blazecfc 3 ай бұрын

If this doesn’t piss anyone off then idk what will. Greed is destroying us.

@shauncameron8390 2 ай бұрын

Not really. It's only destroying those who insist on living in the big city.

@ShiaoBao 3 ай бұрын

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.

@LivinginCanada 3 ай бұрын

I have that sense too, let me see, perhaps I'll make a video related to that some time!

@alexiszhao3364 3 ай бұрын

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 😊

@hbbstn 3 ай бұрын

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.

@LivinginCanada 3 ай бұрын

Thanks for the video idea, yes that's interesting too.

@jimli1355 3 ай бұрын

Canada Greater Vancouver area average house price cad2.18M, which is much higher than Greater Toronto Area and any other cities round the world

@LivinginCanada 3 ай бұрын

That would be another video on which city has the most expensive housing

@kentattwill5210 3 ай бұрын

Just a heads up when you referenced Hamilton Bermuda you showed pictures of Hamilton island in Queensland Australia

@LivinginCanada 3 ай бұрын

Thanks for pointing that out, I didn't know Australia had such a nice island!

@sylvainb.coternbsc.n4896 3 ай бұрын

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.

@LivinginCanada 3 ай бұрын

Thank you!

@sylvainb.coternbsc.n4896 3 ай бұрын

@@LivinginCanada Bienvenue / You're welcome !

@Prat_San 3 ай бұрын

Thanks for introducing me to LPP Index. 🙂

@user-xp2gg7dg8e 3 ай бұрын

A useful analysis by an intelligent young woman.

@LivinginCanada 3 ай бұрын

Thanks!

@NecromancerTO 3 ай бұрын

Love your content

@LivinginCanada 3 ай бұрын

Thanks!

@corradodeluca1320 2 ай бұрын

The cost of living of a city needs to be measured / compared to what the average income is.

@ilhamiturgut9349 25 күн бұрын

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?

@djexpo6655 3 ай бұрын

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.

@jonnysaint5261 3 ай бұрын

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".

@eddiezS5 3 ай бұрын

What a depressing place to live

@pixelletickle 3 ай бұрын

Loss of rent control by Ford has made it impossible for things to ever improve in TO and the rest of Ontario

@shauncameron8390 2 ай бұрын

Which only applies to housing built after 2018.

@ronnysanjaya6823 3 ай бұрын

Thanks.

@charliebrown7393 3 ай бұрын

great vid

@LivinginCanada 3 ай бұрын

Thanks!

@flusher35 3 ай бұрын

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

@LivinginCanada 3 ай бұрын

I'll try to show them for longer next time!

@calcalbull 3 ай бұрын

Sydney Australia should be on top of your list.

@kevinn1158 3 ай бұрын

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?

@noseboop4354 3 ай бұрын

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.