And then there’s Toronto, as 26-year-old JunJun Wu will tell you with a sigh. After almost three years in New York, she opted to move to Toronto for what she figured would be less-expensive housing. Among the world’s major cities, Toronto housing ranks as the fifth most unaffordable relative to income, according to consultant Demographia. They’re not as high as Vancouver — one of the hottest real-estate markets anywhere — but among the world’s major cities, Toronto housing ranks as the fifth most unaffordable relative to income, according to consultant Demographia. All that means is that a Canadian millennial, aged 25 to 31 with a median income of $38,148, can’t buy very much housing in Toronto.

Source: thestar June 06, 2018 14:39 UTC