UrbanWarrior
Senior Member
A net gain of nearly 200 UC units on the list. Not bad.
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- Thread starter Surrealplaces
- Start date
For sure, any gain is good right now with interest rates rising. I wonder what will be the next project to break ground?
adamyyc
Active Member
With monthly rental payments for a one bedroom apartment ~18.5% higher than monthly mortgage payments in Calgary, likely going to see a continuing trend of purpose built rentals.
www.blogto.com
Toronto has the largest gap between rent prices and mortgage payments in Canada
Should you rent or should you buy? The age-old debate never seems to have a clear victor, especially when you factor in inflation, interest rates, ...
www.blogto.com
UrbanWarrior
Senior Member
Wouldn't that lead to less rentals being built due to it being more desirable to buy? I don't really understand the housing market stuff so my curiosity is genuine.
Also, who in the hell is paying 1700 - 1800 to live in friggin Oshawa, Barrie, or Hamilton? Honestly, my family keeps trying to get me to move home and this is precisely why that won't happen. My quality of life would collapse by 90% going back to Ontario. Half or more of my income on rent for a far inferior unit I live in now (29th floor with skyline and mountain views, full gym, basketball court, games room, theatre room, party room, heat and water included for 1185), and surrounded by dozens of parks within 5 to 20 minute walking distance. The only city that has a remotely comparable level of greenspace in the inner city (a non-negotiable since I have a dog that I care about) is London. Those three aren't even cities I would consider, and the all the desirable ones except London are far worse price-wise. Jesus...
Also, who in the hell is paying 1700 - 1800 to live in friggin Oshawa, Barrie, or Hamilton? Honestly, my family keeps trying to get me to move home and this is precisely why that won't happen. My quality of life would collapse by 90% going back to Ontario. Half or more of my income on rent for a far inferior unit I live in now (29th floor with skyline and mountain views, full gym, basketball court, games room, theatre room, party room, heat and water included for 1185), and surrounded by dozens of parks within 5 to 20 minute walking distance. The only city that has a remotely comparable level of greenspace in the inner city (a non-negotiable since I have a dog that I care about) is London. Those three aren't even cities I would consider, and the all the desirable ones except London are far worse price-wise. Jesus...
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We just had someone from work transfer to Toronto, and as incredible as it sounds, she never looked into the cost of rent or real estate in Toronto before taking the new position. Long story short, she's trying to transfer back to Calgary.
BKha
Active Member
If I were to bet, I would put money on either Sunalta Tower 2, 1216 - 8th, 526 - 4th or 1405 - 4th street. Also, Sovereign is a decent possibility.
adamyyc
Active Member
Higher rent costs for apartments vs. lower market prices for condos (plus higher interest costs for buyers) should mean better value for developers to construct purpose built rentals.
Of course, higher borrowing costs could also mean consumers buying condos instead of single family homes, so who knows.
maestro
Senior Member
Construction costs continue to balloon. That could impact decisions to continue building up portfolios sometime soon with rental prices or saleable square footage.remaining as they are.
How can someone more somewhere blind in this day and age of information overload? Toronto is at an extreme right now. There are full time white collar workers on the edge of homelessness.
How can someone more somewhere blind in this day and age of information overload? Toronto is at an extreme right now. There are full time white collar workers on the edge of homelessness.
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darwink
Senior Member
Lots of people move within the city not considering commute time, or the tradeoffs imposed by ‘needing’ a second vehicle. Lots of people buy cars without thinking about insurance premium differentials or the cost of gas.
I am not surprised there is little accounting for cross country moves. There sure isn’t for many on House Hunters International even.
It isn’t that people aren’t smart it is that as a species we are bad at long term planning.
UrbanWarrior
Senior Member
A timely Reddit post. Not just about the costs but also just how much one’s quality of life collapses after moving there from here. I agree on all counts.
artvandelay
Active Member
I've been living in Toronto part-time on and off for the past little while and the lifestyle just doesn't compare. The part about people being colder is spot on - not to say that there aren't a lot of nice and friendly Ontarians, but there's a perceptible difference in demeanor.
People also drive like maniacs, everyone is in a rush to get somewhere, and everywhere you go is crowded. Even some unremarkable city park will be jam packed with people if you try to go on a weekend. Most of the city itself is poorly designed and actually kind of dumpy.
On the positive side, there are a lot of entertainment and sporting options we don't have - and cottage country is beautiful!
Unless it was for some type of high-level Bay Street job unavailable elsewhere in the country, I have no idea why anyone would move to Toronto.
People also drive like maniacs, everyone is in a rush to get somewhere, and everywhere you go is crowded. Even some unremarkable city park will be jam packed with people if you try to go on a weekend. Most of the city itself is poorly designed and actually kind of dumpy.
On the positive side, there are a lot of entertainment and sporting options we don't have - and cottage country is beautiful!
Unless it was for some type of high-level Bay Street job unavailable elsewhere in the country, I have no idea why anyone would move to Toronto.
UrbanRED
Active Member
24/7 opportunity to laugh at the failures of the maple leafs is a good reason
Atticus
Active Member
I lived in Toronto for a few years, but that was a few years ago and to be honest I enjoyed the city for the most part. I get that it’s probably a lot more expensive than it used to be when I lived there. Of course I didn’t mind the hustle and bustle. Also, I suppose I had it good living with my aunt in Yorkville for a couple of years, and maybe never noticed how expensive it is.
One thing I agree with 100% is that people in Toronto aren’t as friendly as people in Calgary, a symptom that is universal to any large metropolis.
Silence&Motion
Senior Member
You can't move to Vaughan and claim you've moved to Toronto. If you move to Toronto, you just need to find a way to live in a more central area. However, it seems like this person just doesn't really like big cities. They say "the transit system is much more complex than YYC and downtown is packed with people, especially on the weekends." like it's a bad thing. I'm happy I'm living in Calgary right now, but I would trade our downtown for Toronto's in an instant.
UrbanWarrior
Senior Member
I would trade some of the vibrancy for sure, but not a chance in hell I’d trade our downtowns. Yikes. No significant greenspace for kilometres in all directions… only a fully engineered lakefront where you can’t even access the lake… hell no. Closest significant greenspace are the DVP (a forest along a major highway a minimum half-hour 1-way from Church and Wellesley), and The Beaches (a good 45 minute 1 way walk from even Kensington Market. I suppose the legislative building grounds are public greenspace… but still not nearly of the quality we have, and it’s the only one that’s “downtown”, That’s why unfortunately as long as my dog is alive I could never in a million years live in downtown Toronto, even if I could afford it’s laughable prices.
Edit: forgot about Allan Gardens and Grange Park. But yeah still, not good enough, not even 5% of what we have in a 15-minute walk of the Calgary Tower.
Edit: forgot about Allan Gardens and Grange Park. But yeah still, not good enough, not even 5% of what we have in a 15-minute walk of the Calgary Tower.
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