BLOOMBERG BUSINESS WEEK HEADLINE – “TORONTO MAKES NEW YORK LOOK CHEAP”. WHAAAT?

According to BLOOMBERG, TORONTO is the world’s fifth most unaffordable housing market relative to income.

“There are a handful of cities that make New York housing look cheap by comparison. Among them: Hong Kong, London, Miami, Los Angeles, Sydney and TORONTO. Home prices in Canada’s biggest metropolis have soared almost 60% in the last five years and are up another 3% already this year.”

TORONTO’s residential property market ranks as the fifth most unaffordable relative to income, according to consultant DEMOGRAPHIA.

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