Toronto vs Silicon Valley
the journal of Michael Werneburg
twenty-eight years and a million words
Toronto, 2016.03.15
It looks like Toronto's housing is now less affordable than that of Silicon Valley. An article in Vanity Fair indicates that the median price there is $US870,000, or (today) $CA1,161,250. Which is comparable to Toronto's $CA1,100,000 - $CA1,200,000, depending on who you believe. At the same time, the median salary there is $US66,000 ($US88,000), while the median in Toronto is $CA38,000.
But there's more to life than dollars. There's also hours spent in commuting. Here Toronto really shines, with 84 hours a year versus 67 in the valley. In your face, Silicon – wait....
Well, we can all be glad we're not trying to buy a home in Vancouver!
source: zerohedge.com