Real Estate

Toronto ranked 13th in the world for total wealth held

  • Last Updated:
  • Nov 23rd, 2018 7:27 pm
Deal Addict
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Jun 23, 2017
1510 posts
1076 upvotes
Toronto, ON
BiegeToyota wrote: In before bears say all the wealth is tied to real estate
LOL...
but so true.
Deal Expert
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Apr 21, 2004
58648 posts
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905P4N6 wrote: In Toronto and Vancouver you're at least $1M because of your house.
Only if close to being mortgage free haha.
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Feb 22, 2011
16521 posts
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Toronto
alanbrenton wrote: Only if close to being mortgage free haha.
Considering the average net worth in Toronto is $1,154,107 I am going to go ahead and say a lot are. The vast majority of people have owned their home for over 5 years, only a small percentage changes hands every year. I think a lot of people forget how much money is in this city, a lot of wealthy people.

https://www.blogto.com/city/2017/09/tor ... lionaires/
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Apr 21, 2004
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sircheersa wrote: Considering the average net worth in Toronto is $1,154,107 I am going to go ahead and say a lot are. The vast majority of people have owned their home for over 5 years, only a small percentage changes hands every year. I think a lot of people forget how much money is in this city, a lot of wealthy people.

https://www.blogto.com/city/2017/09/tor ... lionaires/
I forgot it was just Toronto. I was thinking GTA.

In early 2000, smaller detached homes in North York were half a mil. At the peak, they were probably selling for $2.5m so yeah a lot of net worth built up over the years through r/e.

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