Property Prices in Toronto, Canada

I have travelled extensively world wide and am presently on a 4-month trip to Bogota Colombia, Quito Ecuador, Lima Peru and Santiago Chile. Of all the cities I've been to Toronto compares favourably to all. The Australian cities score a bit higher in my estimate because of the better weather, perhaps better wine and better produce. If Toronto's winter was a month shorter at either end, then it would be perfect in my opinion. Housing is crazy expensive, but so it is in all world class cities. The rich are parking their money where they feel it's safest and sadly Canadian banks are more than willing to money launder for them as all European countries do. Our standard of living is very high, pollution low, you can swim in Lake Ontario if you can brave the cold. Crime is low but like everywhere the pandemic has exacerbated homelessness and petty crime. Traffic in the suburbs and on the major expressways can be gruelling at peak hours. Our parks and transit are clean and well maintained and the excellent Toronto Transit Commission TTC is expanding the subway network and trams. The regional rail network GO is expanding as well to suburban centres and more distant commuter cities. There are tons of sports, theatre, Dining, film festivals, fiestas, cultural celebrations, fairs and good shopping in beautiful malls and along counter-culture Queen St West to enjoy. The Ontario Science Centre, Royal Ontario Museum, Art gallery of Ontario, Ripley's Aquarium, Wonderland Amusement Park, Toronto Zoo, Toronto Islands, CN Tower, restaurant and Edge Walk. The Underground city PATH that connects most skyscrapers downtown protects us from harsh winter weather and offers hundreds of shops, restaurants and services. , the Distillery Historic District, St Lawrence market, Kensington market, little Italy, Korea Town, 3 Chinatowns, India Bazaar, Bata Shoe Museum, The Gardiner Museum, Harbourfront, The Music Garden, High Park are some of the places to enjoy. Our educational institutions Like University of Toronto and York University are world class in research and education. We have the Toronto Symphony, The Canadian Ballet, Taffelmusic and over 100 theatre companies from tiny to the Mirvish Broadway productions at the Royal Alexandria, Elgin Theatre, Winter Garden Theatre and Princess of Wales theatre. The Hockey Hall of Fame showcases the best of our national sport. Graffiti Alley is a gritty art experience. Cabbagetown is one of the largest collections of renewed beautiful Victorian homes and gardens in the world. City Hall Plaza showcases cultures and wares year-round and summer winds down with the 2-week Canadian national Exposition. There a car shows, home shows, garden shows, home-reno shows and more I can't think of. The downtown vibrant Entertainment District hosts bars restaurants, clubs and nightlife. Walk the 2km boardwalk on Lake Ontario in the quaint "Beaches" district in east Toronto. The city is criss-crossed with deep river ravines and all are protected parkland with bike paths, tennis, playing fields, picnic areas and more. If history is your thing explore Black Creek Pioneer Village or the beautiful Victorian homes of the well-preserved Annex. Further afield is Edwards Botanical Gardens or Centennial Park Conservatory and gardens. If Toronto bores you take a scenic train ride 2 hours to the amazing Niagara falls with all its tourist attractions and Niagara district including the charming historic preserved town of Niagara-on-the-Lake and the 100 or more exceptional wineries in the Niagara peninsula. Canadians flee to the lakes in the summer to escape city heat and Torontonians are no exception heading north to the beautiful Muskoka region, Georgian bay, and Halliburton. East are the Kawartha Lakes and wineries of Prince Edward County. West is the "west Coast" of Lake Huron with splendid beaches and Mennonite communities of the Waterloo region. South are the warm waters of Lake Erie. We celebrate our history at Fort York, Toronto and Saint Marie Among the Hurons with Martyrs Shrine in Midland Ontario. I could go on. 50% of the population of this city came from another country and we celebrate those cultures. Of the remaining 50% half are from other places in Canada. If that doesn't speak for itself well what does. People from around the world are clamouring to live here with all Toronto's opportunities in Finance, Health Care, research, education, publishing, the arts, TV, Film, manufacturing and more. You may encounter an "I hate Toronto" attitude from other Canadians but who cares, let them whine. It's all good and friendly here in "Trawna", a city I love.

Prices in Toronto are finally coming down after over 10 years of increases in property values. https://home.ca/toronto-real-estate/neighbourhoods you can see here in most of Toronto's neighbourhoods prices are well above 1 Million for a house/townhouse and even a 2 bedroom apartment. The good news for those with cash on the side is that it's finally getting cheaper to buy something, although if you need a mortgage it's getting more expensive to borrow. Overall Toronto is a great city to invest & live in. I think Over the next 10 years anyone buying in Toronto will do well financially.

The good jobs are few and far between and already taken by somebody who knows someone. Anti-business environment too.

Toronto isn’t what it used to be. Of course every city isn’t what it used to be as time goes by but this city is growing too fast and more and more traffic/congestion/pollution and crime will occur. More have nots, more homeless people, people pushed out so far and having to commute to work for peanuts. As someone born and raised here (I’m near 50 years old) it depresses me and walking around downtown remembering what was there before condos ruled and driving out to the suburbs when it was all farmland. I worry about my kids and their future here. I can see the attraction of Toronto and we are always found in lists of best cities in the world, most livable city, etc., but in reality living here sucks if you aren’t rich just like how it is in New York and London, UK.

Price to Income Ratio: 13.90
Mortgage as Percentange of Income: 98.89%

How can that even be on the green?

https://www.blogto.com/city/2018/01/toronto-ranked-one-least-affordable-cities-world/

Toronto one of the least affordable cities to live. It should be in red, specially because the net income here is a big fat lie.