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Why is Toronto still growing rapidly when wages are so low and taxes along with cost of living especially housing so high - Parkers Legacy

Why is Toronto still growing rapidly when wages are so low and taxes along with cost of living especially housing so high

Why is Toronto still growing rapidly when wages are so low and taxes along with cost of living especially housing so high

Toronto is Canada’s hub for finance, legal and accounting services, healthcare (Princess Margaret Hospital is noted as one of the top 5 cancer research hospitals in the world), film, and a thriving technology start-up culture: ‘Toronto beat out Silicon Valley for number of jobs created by 4,270, according to the 2018 CBRE report.The growth of the region’s tech sector outpaced that of New York City and San Francisco combined in 2016.’ Scoring Tech Talent in North America 2018 Is Toronto the new Silicon Valley?University of Toronto is ranked 18th in the world, and University of Waterloo is recognized as one of the best technology schools.

World University Rankings Toronto is safe, and no one goes bankrupt if they need medical care.Along with the rest of Canada, Toronto enjoys a decent and stable democracy.Regarding wages, Toronto sits around 170 – among the top 200 cities worldwide for GDP / capita, ahead of Rome, Melbourne, and Cambridge.

This, despite having a significant number of real estate investors that do not report income and a lot of students attending 4 universities.My family has lived in quite a few countries.I do not find the cost of living significantly higher in Toronto than in other large cities.

As a point of reference, one of my siblings moved to Phoenix for 5 years.After taxes, healthcare (they had a REALLY good healthcare plan), and other expenses were considered, they calculated that Toronto was 0.5% more expensive than Phoenix.They came back with boxes of full of healthcare forms, receipts, and records.

They chose to come back to Toronto rather than stay in Phoenix.