Report says $40/hour wage needed to live comfortably in Toronto 

lol $40/hr is like more than $6k/month if you work full time.

@@Sam19509 Not after tax it's not.

@@harryshuman9637 you get RRSP deductions and a tax refund if you are single. More benefits if you are married.

@@Sam19509 If you make $40/hr, you won't get a tax refund. And you won't get gst cheques or anything at all. Being married actually reduces your benefits as well, You would get less than two single people.

@@harryshuman9637 That's barely $5K net.

$3,500 per month is still better than a $1M mortgage at current rates. At these rates, you end up paying the bank at least 2x your initial mortgage at the end of it (25 years). Not even counting the other costs of maintenance of about 40% of the price (1% per year). When somebody in the GTA says I bought my house with a $1M mortgage, what they really mean is I signed a 25 years contract with total payments of $2M ($6,600/year for 25 years). You will have to rent at $3,500/year for 48 years to pay the equivalent.

Let’s not forget taxes. That $126k is POST TAX income

you can get single bedroom units for $1800-$2000 (sometimes if you are really lucky or don't care about "standards" you can get for less). The assumption is probably a single earner so one bedroom or studio. If you want 2 bedroom then they are probably assuming some type of dual income (room mates, couple etc).

The problem isn’t the 30%, it’s the fucking deficit between rent and wages.

@@marymarr3 Yes mary it is. At this point I might aswell save up and leave the nation. No point of paying taxes to a nation I'll never be able to afford a home in.

@@marymarr3 it's not more than a mortgage payment lol. People pay double of that for their mortgages

@@marymarr3 is this a fixed rate mortgage?

not true. My girlfriend just rented her condo in a very nice neighborhood for $2300. And that was in a nice neighborhood. If you are going to the not so nice part of town prices drop.

@@pacman3556 I don't know what side of town your lady is on but she has got a great deal then. I've been paying $2800 a month for 550sq feet for the last two years and it's not a "nice" neighborhood the area has even been on the news.

Once you reduce immigration to such a low enough level to make it a buyers market, housing speculators will want to start selling if there's no money to be made. You'd think Justin Trudeau owned a company that bought houses in this fashion with how much his government has increased immigration.

38% of Canadian MPs are landlords...something to think about...

People don’t understand the impacts of that.

@@derek89273 Exactly. I went to Zurich 3 years ago where their nation annual minimum wage was $83,000 but a McDonald happy meal cost $35.

Do you know that if they don't go up that poeple won't even be able to afford the basics of life itself. The evidence is the homeless population that continues to grow each day. The hour glass economy that forces more & more poeple to the bottom. 0_o

​@@noman266I just checked. It is 7.67 CHF which is 9 USD. AT LEAST TRY TO LIE MORE CONVINCINGLY YOU IMBECILE.

@@noman266t’s has adverse affects. Kids dropping out of HS to work for 40 hr. It dumbs down the population.

Roommates, significant others and living outside of Toronto city limits.

Minimum wage jobs are entry level jobs meant for high school kids pretty much.. not for adults in the prime of their careers lol... that falls back on not having taken the time to develop a proper skill set employers want that deserves more money lol..

Don't like landlords? Buy your house

@@FERNANDOAUGUSTO-fv1ck Can't when these landlords already bought all the houses as their "investment property"

landlords are not crooks and tenants are not all horrible people that don't pay. Landlords follow simple supply and demand like any other product or service. It is basic economics. If you don't like it don't blame the landlord blame other factors that go into the high cost....inflation, lack of supply, overdemand etc.

@@pacman3556 Taxes and government restrictions on building.

@@shauncameron8390 yes those are other factors. Govt should remove a lot of the red tape builders face so builders can provide more supply faster Govt's also rent out the condos for low income families. A condo owner can rent their condo to a low income family and have the govt pay them directly for the rent. This puts more pressure on the supply of condos for those that can and want to buy them. If govt built more affordable housing for low income families and removed them from high end condos then this would create more supply for those that can and want to buy a condo. But I don't hold my breath on anything govt related. They are all incompetent fools no matter what level they are at or what party they represent. They end up as politicians for a reason....they can't make it in the real world.

This is why it's sad you NEED a side hustle if you are living in Toronto 😅

@@bajcar I don't live in Toronto, Thank God, I live out in Kingston, Ontario, I run my own business. Do you have a side business it's nothing to be ashamed of.

The best is that you work for government and at same time you have a rental property which can make you earn extra $3500 every month.

@@IssaIsmail-z4o me? I got nothin but hustles (6ish different types this week alone). That's cuz even a full time job and budgeting your paycheck don't cover s🤫it here, and while I want nothing more than the security and community? Even the full time jobs here are not secure, and there's no community. F🤮ck, even the official hustle jobs (Uber, door dash, fivver) are scams within themselves. Deliver door dash for 8 hours for $80 bucks (not including expenses)... OR do an elderly couples shopping for $80 and 3 hours (+a warm meal and get my own groceries along the way). There's a creativity to it all where you can make it work, that I humbly don't wish upon anyone else to have to juggle for too long. How's Kingston? Y'all could use a music therapist over there? 😜

@@joeblack888 best for you maybe 😅

Toronto votes for it

Minimum wage workers are a vast minority anyways.

@@yujirohanmaisbestdad lol nah in Canada the government is all about men chopping off their pair and become a letter of the Alphabet child groomers lol

Try and get grown men away from video games this day and age or keeping them sober long enough to get into construction industry. This is a needed starvation plan if you ask me let the stable minded move forward. The problem is the people who cannot work due to actual health reasons and disabilities they will fair badly here I feel sorry for them.

you can't just walk onto a job site and start working. Most of those construction jobs are skilled labour and once you have your trade most of the trades are unionized that you have to go through years of apprenticeships that barely pay minimum wage. Takes years before you get to $40 plus an hour.

@@pacman3556 This is true I’ll give you that and that’s a tough pill to swallow sometimes. I’m going to tell you exactly how to beat the system it’s a hard formula. You must be vigilant in everything you do while others are out partying and carrying on you stay home and study. While others are out buying clothes and shoes they don’t need and really can’t afford you sustain yourself on what you can buy outright in cash without debt. They will look at you as though you are impoverished and yet you will know that they are already broke. Every amount of money you spend must be written down and catalogued. The first trick to money is knowing where it goes once you get it I’ve learned that lesson the hard way. I know multi millionaires who do this everyday. They don’t go anywhere without a pen and a paper. Don’t get discouraged in the face of hardship and focus on what good can come out of it. I mean that! This takes time but you will see the benefits later in life that’s how it works nothing comes right away it takes time.

That's too bad because the government pays 600.00 a month for each kid till they are 18. What do you think all those nicely dress Muslim women shopping in Costco do all day for a living? They shop and then go home undress and make 4 more kids in 5 mins naked.

" You must think having kids is fun" well think again 🤷🏻‍♂️🤪 you smart 🤓👍 by staying single and just go an have fun ☺️ if you want a pet 🐕 or a child which is almost the same go an adoption one or 5

And you have no car and live in someone’s basement.

@@whatdoyouwantfromme1029Dogs need to have surgery. $3000. More than a human.

@@MrMannyhw i said garage shop 👍 and yes I have no car 🤷🏻‍♂️ and don't need or want one 👍

" I do 🙋 part time minimum wage 😉 and no benefits 👍 and there are so many people like me 😉👍

lots of people do. They are barely scrapping by and living 10 people in individual rooms and a shared kitchen packed into a basement.

Basic Common Sense not that these ppl care

Your Jewish friends made covid and set up their own ppl in WW2. . ask your Jewish friends to fix it they give themselves jobs .. minimum wage workers are heros we need less pale ppl like u here getting free rides acting like ur the shit

Can't possibly have anything to do with the fact that they brought in a million people last year alone, and most of them want to live in the big cities, like Toronto, right? Did anybody vote for this? No, and they have the audacity to call themselves our "representatives."

that is not true. Toronto office vacancy rate is 15.8% which is the highest it has been since 2020. But there are various reasons why it is so high. Still recovering from Covid. Not everyone back to work, new offices were built in Toronto over the last few years creating more supply etc etc etc. People are now starting to go back to an office more times a week so those offices will start to fill back up. Also the new offices will start to be leased and also start to fill up.

Trudeau was voted in for a third time in 2021.

Ppl with families???

@@JKTO then a husband and wife with two income with a child….sure there is logic for 2 bedroom.

hard to plan ahead and save when 95% of your income goes to just basic food and shelter. Kind of hard to live in a small town when your job is in downtown Toronto. You have to move 5 hours away from Toronto to find some small town that has a "lower cost of living" then Toronto. And even 5 hours away you start crossing into other larger cities like Ottawa or you are in cottage country where lake front property sells for the same price as a condo downtown toronto

@pacman3556 wrong, we lived in tdot. Rent to income was the same. But we plan and didn't ear out, didn't drink, didn't go out at all. Worked and saved for 2 yrs. Put 2k a month away. Got looking only 2.5 hrs away and got a house for 230k when tdot was 1millon. Then got new jobs, (still saved like we were poor and did that for 7 yrs .) Paid our house off. Used money against our house and now we have 8 units after movied here in 2010. Rent down town tdot for a low income is just dumb. Also did you plan as a teen, cuz my son is 17 and has over 20k saved from working p.t plus taking ever call in shifts. Time for a changed. But with no changed you won't see growth.

@@flexxgym350 there is no way rent to income ratio was the same if you by yourself could save $2000 a month. My assumption is when you say "we" you mean you and a partner which is a dual income not a single earner like most people now a days. You also have to drive a hell of a lot further then 2.5 hours away from Toronto to find anything under $500K. Not many people can commute 2.5 hours away Also yes I did plan and save as a teenager that is why I am similar to you. I just am more realistic and not as self entitled as you. I realize that not everyone has the same opportunities as me. Not everyone can save as a teenager and many people are new to the city that don't have the chance to save as a teenager. Just because you lived a pretty life doesn't mean that is reality. You are just detached and self absorbed and think everyone should lead the same self entitled life you were given.

It may be higher in cost. But if ppl are getting by or just under getting by in tdot. Then they can get ahead outside of town. That's my point, rent, cost of living and for minimum wage jobs, Saying in tdot is just dumb. Ppl don't want to let go to get ahead. Standing in one place being upset you getting wet in the rain, but yet your not wanting to move is the biggest problem these days.. You can't have it both ways, And yes me and my wife, as we didn't play marriage, and lived together before we said I do. So planning in life is everything . I'm sick of ppl batching life isn't fair and such, yet they are not welling to give alot now to get ahead. Life is never fair and it won't be, the sooner they understand no one's coming to save them the faster they may changed their life for the better They are very short in ppl doing trades work and yet no ones filling in the jobs.

@@flexxgym350 you seem very detached from reality and self entitled. Not everyone can just pick up and move outside the city. There are not that many job opportunities for everyone to move outside the city. And if they did then it just recreates the same situation outside the city that is now inside it. Decades ago it wasn't very expensive to live in Edmonton and nobody even heard of a place called Fort MacMurray. But once oil production started and everyone moved there it put the same types of supply and demand pressures on the city that Toronto (and surrounding areas) have today. It is not all about people's attitudes it is about basic economics and supply and demand. You are just too self entitled to see it and think everyone should have lived the same life of luxury that was handed to you with a silver spoon in your mouth. Trades work is no different from any other work. You can't just walk onto a job site and expect to pick up some tools and start working. They require years of training in schools then more years of apprenticeships to get to a higher level of earnings. You start off in the trades as a first year journey man and you are not making much more than minimum wage. And the years of going to school to get to journeyman or apprentice are not paid at all. You are way out of touch with reality.