Real Estate

Toronto ranked 13th in the world for total wealth held

  • Last Updated:
  • Nov 23rd, 2018 7:27 pm
[OP]
Deal Fanatic
Feb 22, 2011
6540 posts
6526 upvotes
Toronto

Toronto ranked 13th in the world for total wealth held

I know a lot of people like to focus on income but some seem to forget that a lot of people already have accumulated wealth. A lot of rich people in this city where the average networth is over $1 million. Rich people like living in big cities, they flock here. The other thing is Toronto is relatively young compared to many of these cities and still growing.

Image

https://grafiti.io/facts/88951
44 replies
Deal Expert
User avatar
Apr 21, 2004
52045 posts
16682 upvotes
Still the 11th largest economy (likely top five among English-speaking nations) but likely will be eclipsed by a few more nations over the next decade.

I think households that own a single property already have at least $300-400k added to their net worth.


Visa Headaches Discourage Foreign Applicants to U.S. B-Schools
https://www.bloomberg.com/news/articles ... ium-canada
Member
User avatar
Nov 12, 2010
268 posts
61 upvotes
Downtown Toronto
BiegeToyota wrote: Hmmm.... Sydney is #9
Professor BiegeToyota,

I don't think this chart is credible as I don't think Sydney is far ahead of Toronto. Also, this chart doesn't have Bangkok, which is ahead of Toronto and Sydney in term of total wealth held. People in surrounding countries like to flood to Bangkok because Thailand is one of the free countries in Asia.
Last edited by Kalimoor on Nov 8th, 2018 3:53 pm, edited 1 time in total.
Electrical Engineering Professor Mark77 wrote:I have been unemployed for 13 years and there is nothing wrong with me. I'm serious!!!
Deal Addict
User avatar
Dec 13, 2016
3226 posts
2641 upvotes
In before bears say all the wealth is tied to real estate
[OP]
Deal Fanatic
Feb 22, 2011
6540 posts
6526 upvotes
Toronto
BiegeToyota wrote: In before bears say all the wealth is tied to real estate
I always found those replies hilarious because what you are really saying is you should have bought real estate lol.
Deal Fanatic
Feb 9, 2009
8436 posts
5545 upvotes
Real estate and land has been the king of kings of investment over time, going back to the ancient times when only the true wealthy owned their houses.
Penalty Box
Dec 30, 2012
1097 posts
1142 upvotes
Toronto
Interesting that Chicago is 11th yet RE is quite cheap there.
Deal Fanatic
Feb 29, 2008
9922 posts
5243 upvotes
civiclease wrote: Interesting that Chicago is 11th yet RE is quite cheap there.
I wouldn’t say cheap. I mean Oprah lived there. But it is a Midwest city that has to compete with New York, LA, Boston, etc. Toronto has no competition. Maybe Vancouver but we get the best jobs. Everyone comes here so there is more demand for housing.

Chicago is a very nice city though. Just stay away from the bad areas.
Deal Addict
User avatar
Dec 13, 2016
3226 posts
2641 upvotes
JayLove06 wrote: I wouldn’t say cheap. I mean Oprah lived there. But it is a Midwest city that has to compete with New York, LA, Boston, etc. Toronto has no competition. Maybe Vancouver but we get the best jobs. Everyone comes here so there is more demand for housing.

Chicago is a very nice city though. Just stay away from the bad areas.
I much prefer Chicago aerial drones over Toronto by far :(
Deal Fanatic
User avatar
Jun 26, 2005
9728 posts
1705 upvotes
Toronto
11th is pretty high , impressive
Deal Fanatic
Feb 9, 2009
8436 posts
5545 upvotes
civiclease wrote: Interesting that Chicago is 11th yet RE is quite cheap there.
It’s call “chi-raq” for a reason.

The ghettos really decrease the overall price of Chicago real estate as well as no employment growth, high taxes and loss of population.
[OP]
Deal Fanatic
Feb 22, 2011
6540 posts
6526 upvotes
Toronto
Sanyo wrote: It’s call “chi-raq” for a reason.

The ghettos really decrease the overall price of Chicago real estate as well as no employment growth, high taxes and loss of population.
Lol I find it even more funny that someone can ignore 12 examples and look at the 1 that proves their point, even when that 1 is the worst comparable in terms of growth rate and quality of life.

All these people saying to invest in stocks and not RE and they don't even realize growth rate is a factor too?
Member
May 18, 2015
484 posts
678 upvotes
Thornhill, ON
Toronto is in Ontario, which has the largest sub-sovereign debt in the world. Your RE "wealth" can and will be turned into a liability in the form of crippling taxes. Somebody has to pay that debt... who do you think will foot the bill? The marxists will come after the "wealthy" RE owners to pay their "fair share". You can take that to the bank. Look at what they're doing in BC...

Top