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Sorry, I concur, lazy research on my part. Your listing for family income may have been better researched.
Forget Toronto at this point. Townhouses in Barrie are selling at 700 or more. 2,000/mo gets you about 400K mortgage. Almost nobody has a 300K downpayment to get in. Now you are trying to start in a condo but are being bled dry by condo fees and stupidity. Realistically, buying far away as an investment is probably the only way in for most in southern ontario (unless somebody gives you a giant cash infusion).
My numbers were likely Toronto Toronto as the census didn't say GTA. I didn't dig into the details to confirm.
I have mixed opinions on this. I really dislike incentives that encourage people not to work, or work for cash while sucking at the public teat.
What I worry about with all this socialism is twofold.
I agree with that.
Government cashflow in that scenario becomes very interesting. Politicians will still want to be able to dish out favours and money but where does the input come from? How do you appropriately tax a computer that optimizes airline schedules? What if the computer is in international waters? Straight consumption tax is probably insufficient to provide the money required to keep the unemployed masses fed. Is it constructive to have tens of millions of people living in the country if many have nothing to do? Convert to the China approach to limit population to a supportable level? Very interesting.
That's stuff for philosophers to excogitate right now, were pretty far away from AI threatening employment IMHO.
Which is why we live in Orangeville. We bought our first house in Brampton in 1982 because we couldn't afford a house in Toronto at the time, even with two incomes. Lived in Brampton for 10 years and still couldn't afford to move closer to Toronto, so bought a house in Orangeville. Both of our kids moved to Toronto for work, but could only afford apartments. In the last four years they have both moved back and bought houses in Orangeville. In the last few years housing prices have soared up here as well, so both of our kids made a good choice and have built some equity.
A smart guy I know was setting up a tech company about 20 years ago. He chose to put it in peterborough. He could pay roughly toronto wages but housing was <25% of toronto prices so the employees could live like rockstars if they wanted (or save a bundle and get in the fire game before that was even a thing).
Compared to where? You can always find a job where it makes more sense to you and your family situation.
I like that idea however outlying areas can be challenging for talent, particularly in tech. I managed a lot of tech in my younger years, the toughest time I had was in a beautiful community in So California, Santa Barbara. We had some great engineers, but tech companies need a healthy rate of positive attrition to manage the speed of change. We strived for an average developer tenure of 5 years, we had trouble keeping it under 10.
He grew the company for 10 years, added offices in a few foreign countries (maybe to increase his developer pool?) and then sold it to OpenText. Not sure if the company maintained presence in Petey or relocated to Markham. He worked for opentext for the obligatory two years and then moved on.
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