Toronto

I’ve been having an ongoing series of conversations with my young friend Gracen up in Toronto about how to make sense of the Canadian real estate market. We see each other a few times a year as we both travel around North America.  read more »

The front page of The Wall Street Journal cited the difficulty of cities (Note 1) trying to stop the escalation of house prices “Western Cities Try, and Fail, To Slow Chinese Home Buying.” The more descriptive online headline said: Western Cities Want to Slow Flood of Chinese Home Buying. Nothing Works: Governments from Vancouver to Sydney to Toronto are using taxes and other restrictions to tackle real-estate bubbles.  read more »

Households could face even greater housing affordability challenges in the years to come, according to the September 2017 RBC Economics (RBC) Housing Trends and Affordability report.  read more »

I’ve been friends with Charlie Sena for almost two decades. Charlie, a longtime entrepreneur, Democratic political operative and fundraiser for former Gov. Gray Davis, recently chided me about what he sees as my “negativity” about California and its future. My response was that, given its natural advantages, this region should not be in such a weakened condition. Decline, I suggest, is not an imperative here, but largely a choice.  read more »

Let me stipulate that I think Toronto’s Rob Ford is a terrible mayor. In fact, while I might not go so far as Richard Florida, who labeled Ford “the worst mayor in the modern history of cities, an avatar for all that is small-bore and destructive of the urban fabric, and the most anti-urban mayor ever to preside over a big city,” I’m willing to say he’s probably in the running for the title.

The roots of Rob Ford lie in “amalgamation,” the forcible merging of the city of Toronto government with various of its suburbs by the Ontario provincial government. The idea was cost savings, but of course costs went up.  read more »

Toronto is the largest city (metropolitan area) in Canada and its principal commercial center. However, this is a relatively recent development. Toronto displaced Montréal is Canada's largest city during the 1960s. Since the 1971 census, when the two Metropolitan areas were nearly identical size, Toronto has added approximately 3 million people, while Montréal has added approximately 1,000,000 (Figure 1).  read more »

The Federation of Canadian Municipalities (FCN) and the Canadian Urban Transit Association (CUTA) have expressed serious concern about generally longer commute trip times making Canadian metropolitan areas less competitive. Each has called for additional funding for transit at the federal level to help reduce commute times and improve metropolitan competitiveness.  read more »

The issue of income disparity in Toronto has once again been brought into the public eye by a December 15th report by University of Toronto Professor David Hulchanski. The report, “The Three Cities Within Toronto,” points to a growing disparity in incomes between Downtown Toronto, the inner suburbs, and the outer suburbs of the city. The report demonstrates that between 1970 and 2005 the residents of the once prosperous outer suburbs have been losing ground compared to the now wealthy downtown core. The results for the inner suburbs have been mixed.  read more »

In my pre-election piece on the Toronto election, I discussed the city’s lingering malaise. It developed slowly but its roots can be traced to the 1998 amalgamation that swallowed up five suburban municipalities. This led to a six folds expansion of city boundaries and a tripling the population base. This amalgamation was initiated by the province of Ontario as a cost saving measure and faced major local opposition.  read more »

Despite Toronto’s international reputation for livability, all is not well in the city. Many politicians and pundits blame the outgoing city council, and Mayor David Miller. While they’ve done their share of damage, the city faces deeper, systemic problems. The source of the problem is more fundamental than stifling bureaucracy, or the stranglehold of the public sector unions. These are symptoms of the institutional sclerosis caused by the amalgamation of Toronto and surrounding areas into the new Toronto Megacity.  read more »