HUY DO, 27, has created a widely distributed movie poster starring himself in the hope it will help him find rental accommodation in TORONTO’s core by June. It’s become a difficult task. The downtown vacancy rate is 1%, its lowest percentage in 16 years.
A one-bedroom apartment in the core now rents for an average of $1,614 a month. A two-bedroom $2,252. Governments are trying to help with rent control, but the numbers aren’t getting much better.
Compared to a national average purchase price of $481,000 across all housing categories from condos to detached houses, TORONTO comes in at $736,783 according TREB (Toronto Real Estate Board)
That word “manhattanizing” is creeping more and more into local political lingo. “As we Manhattanize, we are building a city of inequalities, deepening inequalities,” said Councillor JANET DAVIS. The greatest fear is that TORONTO will become yet another ‘playground for the rich’.