Toronto vs Silicon Valley
the journal of Michael Werneburg
twenty-seven years and one 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