Real Estate

Immigrants solely responsible for Toronto real estate prices

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  • Oct 28th, 2019 9:12 am
[OP]
Deal Addict
User avatar
Dec 13, 2016
3713 posts
3211 upvotes

Immigrants solely responsible for Toronto real estate prices

If it wasn't for immigration Toronto and Vancouver real estate would be in the pits like the rest of the country.

You can say, but jobs, look at all the jobs. The fact is jobs are here because of immigrants.

What shocks me even more is how much Quebec French I hear in Toronto. I guess La Belle Province is not that Belle to separatists when there is money to be made.
11 replies
Deal Guru
Feb 29, 2008
14432 posts
10687 upvotes
Disagree. Remember there was a mass exodus from Quebec to Ontario/Toronto in the late 80s early 90s. Toronto was a regular city and then all of a sudden was inundated with so many transplants from Quebec. That is what popularized Toronto and the rest is history.

I immigration responsible? Partly? Sure Sole reason? Not even close.
Last edited by JayLove06 on Oct 27th, 2019 7:51 pm, edited 1 time in total.
Deal Addict
Dec 23, 2010
1897 posts
929 upvotes
Moon
BiegeToyota wrote: If it wasn't for immigration Toronto and Vancouver real estate would be in the pits like the rest of the country.

You can say, but jobs, look at all the jobs. The fact is jobs are here because of immigrants.

What shocks me even more is how much Quebec French I hear in Toronto. I guess La Belle Province is not that Belle to separatists when there is money to be made.
Toronto is very 2nd tier for good jobs.

https://en.wikipedia.org/wiki/List_of_c ... old_income

Ottawa is first place at 105k median family income. Toronto is in the gutter at $83k with many many other cities ahead of it.

I'm so tired of hearing how great Toronto is with its jobs. YOUR JOBS SUCK SHIT. Brag more about your 40k/year job supporting the million dollar detached house prices.

The reason Toronto is so expensive is because of real estate investors pumping the market and these investors are both domestic and foreign. Cash being used to buy these houses is certainly not coming from the shitty paying Toronto jobs.
Deal Guru
Feb 29, 2008
14432 posts
10687 upvotes
Applesmack wrote: Toronto is very 2nd tier for good jobs.

https://en.wikipedia.org/wiki/List_of_c ... old_income

Ottawa is first place at 105k median family income. Toronto is in the gutter at $83k with many many other cities ahead of it.

I'm so tired of hearing how great Toronto is with its jobs. YOUR JOBS SUCK SHIT. Brag more about your 40k/year job supporting the million dollar detached house prices.

The reason Toronto is so expensive is because of real estate investors pumping the market and these investors are both domestic and foreign. Cash being used to buy these houses is certainly not coming from the shitty paying Toronto jobs.
Ottawa is higher based on government jobs. That's it. The floor is high, but the ceiling is low. Toronto has far more high income jobs and they pay much more. No one making $40K a year is investing in property. Stop letting biased news articles cloud your head.

How many investors do you know? Based on your post, can't be many if any at all.

Remove the government jobs you know... the jobs we actually pay for...then come back to me with some data and tell me how shit Toronto jobs on. The only thing I'll agree on is a lot of the jobs here are underpaid.
Deal Addict
Dec 23, 2010
1897 posts
929 upvotes
Moon
JayLove06 wrote: Ottawa is higher based on government jobs. That's it. The floor is high, but the ceiling is low. Toronto has far more high income jobs and they pay much more. No one making $40K a year is investing in property. Stop letting biased news articles cloud your head.

How many investors do you know? Based on your post, can't be many if any at all.

Remove the government jobs you know... the jobs we actually pay for...then come back to me with some data and tell me how shit Toronto jobs on. The only thing I'll agree on is a lot of the jobs here are underpaid.
A job is a job. Money is money. Most people would prefer a government job with their great benefits over any corporate one. A government job is one of the best jobs anyone can have in Canada. Ottawa has 4.8% unemployment and Toronto has 6.4% unemployment. Toronto likely has the lionshare of welfare bums in Canada as well.

I agree that Toronto will have more of the 1%er type jobs per capita due to having more corporate positions but I absolutely disagree that it has more upper middle class jobs per capita. So my question is, why the **** do you think only the 1% should own Toronto property? Eat the rich. A society where the rich own property to rent out at insane prices to the rest of society is called feudalism. The clock is ticking for the 1% rich **** in Toronto shitting on the rest of the city.

My point stands. You are not going to be in that 1%er club. Your are NOT more likely to be in the upper middle class if you move to Toronto rather than Ottawa. Toronto jobs for the majority of people are dogshit.
Sr. Member
Jul 10, 2018
515 posts
485 upvotes
Note that given the benefits, pensions, and security of those Ottawa government jobs, their true value far exceeds the actual number on their pay slip.
Sr. Member
Jun 30, 2013
632 posts
266 upvotes
GTA
BiegeToyota wrote: If it wasn't for immigration Toronto and Vancouver real estate would be in the pits like the rest of the country.

You can say, but jobs, look at all the jobs. The fact is jobs are here because of immigrants.

What shocks me even more is how much Quebec French I hear in Toronto. I guess La Belle Province is not that Belle to separatists when there is money to be made.
It's not the immigration, but dishonest mortgage brokers and greedy lenders are reason for this hike. Or, alternatively, buying a 2nd house became the main reason for price hike.
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Edited by the RFD Moderation Team due to the 4 line limit
Jr. Member
Apr 25, 2019
192 posts
217 upvotes
Ontario
Not sure if it’s true heard from a friend that you can generate a fake T4 in GTA to get higher mortgages. That might be another reason how folks buying 2nd, 3rd, 4th home etc
Deal Addict
Dec 4, 2016
1893 posts
919 upvotes
JayLove06 wrote: Ottawa is higher based on government jobs. That's it. The floor is high, but the ceiling is low. Toronto has far more high income jobs and they pay much more. No one making $40K a year is investing in property. Stop letting biased news articles cloud your head.

How many investors do you know? Based on your post, can't be many if any at all.

Remove the government jobs you know... the jobs we actually pay for...then come back to me with some data and tell me how shit Toronto jobs on. The only thing I'll agree on is a lot of the jobs here are underpaid.
Actually government jobs create a higher floor for all jobs, especially highly skilled private sector jobs. Talent is definitely more expensive in Ottawa than in Toronto, when quality is accounted for. The two local universities in Ottawa are nowhere near the caliber of University of Toronto and University of Waterloo, which means companies have to pay more to attract talent from outside Ottawa.
Of course, the bigger employment base of Toronto means it's easier for specialized talent to find another job if the current employer goes bankrupt, so specialists are willing to get paid less than in smaller cities, for the stability of not moving for each employer.
Toronto is expensive because it's actually running out of land, so everyone, rich or poor, lives in smaller quarters and accepts a lower material standard of living.

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