tough out there

[on-hold]

The thing is, though, if the money printing were actually significant, you would expect the Canadian loonie to strengthen, not weaken.

 

[RocketCity]

So if we go according to this logic then the average income in Toronto should be at least $250,000

but according to Stats Canada its only $67,000:

http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/famil107a-eng.htm

Therefore for people to be able to afford average housing price of $800,000

http://www.thestar.com/business/real_estate/2013/10/03/home_prices_in_the_gta_continue_to_climb_despite_ottawas_efforts_to_cool_real_estate_market.html

In light of these facts......Can you please shed some light on how its possible for people to afford average price of house of over half a million dollars when mean income is only $67,000?

I'm not the disputing the affordability, or lack thereof of Toronto. I, myself, life in an affordable locale in the US and for the price you pay for an average home in Toronto you can get a mansion where I live. Toronto is expensive, much less affordable than Houston. My statement on affordability really had nothing to do with your post. It was just a general comment. However, my other point still stands that Toronto shouldn't be compared with Houston. You're comparing one of the most expensive places in Canada to one of the least expensive places in the US. For example, one of my co-workers moved from Silicon Valley to Huntsville, Alabama because he couldn't easily afford to buy a house in the West Coast even with an engineer's salary whereas you can find a nice place here as an engineer for about 3x your salary. The same complaints about affordability in Toronto can be made about a place like San Jose.

 

[torontosm]

The thing is, though, if the money printing were actually significant, you would expect the Canadian loonie to strengthen, not weaken.

The Loonie did strengthen and was at or near parity for an extended period of time. The recent declines are more a result of the US' economic recovery vs. Canada's economic decline. As a result, interest rates are expected to rise in the US well before Canada, thereby strengthening the USD and weakening the CAD.

 

[newtone]

I'm not the disputing the affordability, or lack thereof of Toronto. I, myself, life in an affordable locale in the US and for the price you pay for an average home in Toronto you can get a mansion where I live. Toronto is expensive, much less affordable than Houston. My statement on affordability really had nothing to do with your post. It was just a general comment. However, my other point still stands that Toronto shouldn't be compared with Houston. You're comparing one of the most expensive places in Canada to one of the least expensive places in the US. For example, one of my co-workers moved from Silicon Valley to Huntsville, Alabama because he couldn't easily afford to buy a house in the West Coast even with an engineer's salary whereas you can find a nice place here as an engineer for about 3x your salary. The same complaints about affordability in Toronto can be made about a place like San Jose.

I agree with you as mentioned in my previous post "Actually Toronto cannot be compared to Houston cause Houston is more lively atleast restaurants are open past 10 pm on a weekdays. "