With five million square feet of available space across 47 office towers, downtown Toronto is becoming a tenant’s paradise - and an investor’s potential nightmare
With five million square feet of available space across 47 office towers, downtown Toronto is becoming a tenant’s paradise - and an investor’s potential nightmare
It’s behind a pay wall, however based on the summary, I’m assuming no one brought up that it’s costs an average of $2,600 (per Zumper) for rent downtown and that may be causing issues with not wanting to commute 60+ minutes downtown (per Science Direct on Commuting Times and depressive symptoms in Korea it increases depression)? Or that there’s a ton of Condos for sale that are small and cost a mint to buy?
If thats the case, then the interviews shown don’t seem to be addressing the cause of the issue: it costs a lot to live in downtown Toronto and the median average pay is $69k/yr, per stats canada in 2022, which if we use the 30% rule for rent, means average rent should be $1,725. Now that rule may be outdated, or requires you to live with someone, in your tiny 700 Sq. Ft. Place, and there’s no rent control anymore, so prices can now jump and you have to move? Which is more time spent doing things you hate and having less money? Or that it costs a lot for lunch when you commute unless you dedicate time to meal plan on half a day on the two days you take off during the week? And all of that to have to dress up for work (yay, more costs!) and be interrupted at work, or be guilted into staying later because the boss doesn’t think you achieved anything because you leave at a normal time (that’s anecdotal for me, im just ranting now)
Man I’m frustrated by these articles. Maybe the people who keep bribing our politicians should use some of that money to convince them to make downtown liveable so their office properties keep their value rather then acting like all us workers should just suck it up and come in to help their portfolios.
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It’s behind a pay wall, however based on the summary, I’m assuming no one brought up that it’s costs an average of $2,600 (per Zumper) for rent downtown and that may be causing issues with not wanting to commute 60+ minutes downtown (per Science Direct on Commuting Times and depressive symptoms in Korea it increases depression)? Or that there’s a ton of Condos for sale that are small and cost a mint to buy?
If thats the case, then the interviews shown don’t seem to be addressing the cause of the issue: it costs a lot to live in downtown Toronto and the median average pay is $69k/yr, per stats canada in 2022, which if we use the 30% rule for rent, means average rent should be $1,725. Now that rule may be outdated, or requires you to live with someone, in your tiny 700 Sq. Ft. Place, and there’s no rent control anymore, so prices can now jump and you have to move? Which is more time spent doing things you hate and having less money? Or that it costs a lot for lunch when you commute unless you dedicate time to meal plan on half a day on the two days you take off during the week? And all of that to have to dress up for work (yay, more costs!) and be interrupted at work, or be guilted into staying later because the boss doesn’t think you achieved anything because you leave at a normal time (that’s anecdotal for me, im just ranting now)
Man I’m frustrated by these articles. Maybe the people who keep bribing our politicians should use some of that money to convince them to make downtown liveable so their office properties keep their value rather then acting like all us workers should just suck it up and come in to help their portfolios.