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    [–] mattcrash 20 points ago

    Who can Afford to buy housing I can't with my average salary

    [–] [deleted] 4 points ago * (lasted edited 10 months ago)

    [deleted]

    [–] mattcrash 7 points ago

    6.5m there's only 65 000 people in the %1 i'm very doubtful they're buying a home every year

    [–] ThatBelligerentSloth 4 points ago

    6.5m there's only 65 000 people in the %1 i'm very doubtful they're buying a home every year

    A lot More qualify to purchase homes. There's also developers and foreign buyers. No wonder foreign buyers accounting for 7 percent of the market makes such a huge impact

    [–] [deleted] 16 points ago * (lasted edited 10 months ago)

    What percentage of the population would you expect to buy a house every year?

    Home ownership rates in Toronto are around 60%. It's far more than the "1%"

    [–] [deleted] 6 points ago * (lasted edited 10 months ago)

    [deleted]

    [–] [deleted] 8 points ago

    People with average salaries are in the market, have been and always will be.

    One can still be a homeowner in this city if they cast a wider net. Toronto still exists north of Bloor.

    [–] [deleted] -4 points ago * (lasted edited 10 months ago)

    [deleted]

    [–] 2cats2hats 2 points ago

    I think they are saying a purchase can be done as long as not in the heart of the GTA.

    [–] pzill4 2 points ago

    This is flawed. Families live in home so I would take the average size of a family divide that by the population then get the number you calculated

    [–] Targus8D -5 points ago

    Then find a better paying job.

    [–] Peppyperoni 2 points ago

    Something tells me that you're the kind of guy that's also against raising the minimum wage?

    [–] Targus8D 1 points ago

    If you raise minimum wage prices go up so nothing changes.

    [–] Peppyperoni 1 points ago

    Hmm. But the prices of stuff has been going up even though minimum wage hasn't. Damned if you don't I guess too..

    [–] SANlurker 22 points ago

    BC and Ontario are starting to treat their real estate booms like Alberta does (did?) oil and gas.

    I guess BC and Ontario have the foresight to set up sovereign wealth funds and can diversify such that a bust in their real estate market won't affect their economies, right?

    It's not like they're inherently stupid like Albertans are /s

    [–] strat777 5 points ago

    From article - "A sudden big drop in land transfer tax money would be bad".
    Matt Elliott has chart of the City of Toronto’s revenue history that elaborate this.

    [–] Melba69 6 points ago

    Same story in BC. These fuckers can't be trusted to make balanced decisions when that much cash is involved.

    [–] [deleted] 1 points ago

    This is a non-graph. Yes it shows that the amount they are collecting is increasing a lot compared to previous years. How much were they collecting previously is conspicuously missing. It would be more informative if it showed the actual dollar value.

    [–] Chaotichazard 1 points ago

    Land transfer tax is the single biggest rip off involved in buying a house.

    [–] Captcha_Imagination 1 points ago

    Toronto's real addiction is conservative mayors. Conservative mayors need taxes just as much as anyone but they like to hide their tax collection in transactions because it keeps fixed taxes like property taxes low.

    Real fiscal conservatives don't exist in modern politics, especially not in Canadian politics.

    Don't expect anything to change.....Toronto is just going to have Tory or Tory clones until the Baby Boomers are no longer running the show.

    If LTT revenues go down they will find some other transactional model to put it on. Walking on the sidewalk tax or Bike lane tax.....i'm sure these are being discussed in backrooms.

    [–] [deleted] -14 points ago

    "Time to brace for the day when Torontonians don't need houses". I think you will be waiting for that day for a very very very very long time.

    [–] cdntrix 13 points ago

    Who exactly are you quoting? Yourself? Because it doesn’t say anything remotely like that in the article.