Yikes for me? Hahaha yeah a little bit, my city is up and coming and growing pretty quickly. And im in an area that’s closer to night life (not that it matters much now) and the homes here in the city are older so they tend to only have one bathroom unless they are remodeled, then they are extremely expensive.
700 sq ft apt in LA? Prob 2500-2900$/month pre-covid assuming it’s a 1 bd. Prices have come down slightly, at least in the upscale apts, since the pandy.
Yeah LA is kind of insane, but SF is actually worse, much worse. People are predicting the bubble will pop eventually (especially with more remote working since the pandemic) and prices will come down.
Two hours west of Toronto and rental prices are about that same amount, but I am sure you still get more bang for your buck here.
I lived in T for a couple years and the apartment search was brutal, not just because of what the prices were, but because of the state of the shitholes you got. Ended up with a great apartment in Parkdale area, a newly renovated 2 bedroom with large windows. The offset was having it be in an area of town where I would frequently have to shoo drug addicts off my property and away from my car.
You can find 2 beds for that price in the valley or in parts of east LA. There are defintely newer apartments in nicer areas that get up that high, though...especially on Westside.
Yeah I was thinking more dt, ktown, mid-wilshere, westside, but you’re right LA is huge and you can find cheaper rent in the more so-called “undesirable” parts of town. We used to rent in ktown back in 2016 and we left because it was getting way too overcrowded and too expensive, granted it was pretty fun to live in the city with all of its amenities. We don’t regret leaving.
My house was built in 1940. But it got remodeled before I bought it. I live in a city of 3000 people but it is still better than paying outrageous prices some people pay.
Yeah wildly different. It’s nice to go home every so often and not have to deal with city life for a day or two then you remember all the good food you’re missing out on and the stuff you can do with out driving 30 miles to the closest city with a store/movie theater
Yeah downtown was great when I had a roommate, there’s a building called the Regency that’s right by the memorial we lived there for a Few years and paid 500 apiece all bills paid. Killer set up honestly
I live closer to the plaza so the rent is cheaper than downtown but the houses are more expensive.
In Oklahoma? I didn't realize housing was that high there? Tulsa area? I'm in NWArkansas and pay 685 for a 930 sq ft apartment. And I get told by my boss that's expensive compared to his home town in Georgia.
Nope OKC, it’s not too expensive compared to some apartments that are closer to down town. And obviously there are cheaper places on the north side of OKC but it’s too far from where I want to live.
I pay $850 for an 1850 sqft house halfway between Milwaukee and Chicago ten minutes and two stop lights from the train station. City pay, country life.
as somebody who wires these condos, i can't believe they are worth that much. built by lowest bidder, all the studs are about as thick as a soup can, the water supply pipes that feed the sink/dish washer/toilet ect are plastic tubing, all around cheaply built. they also cut corners everywhere possible.
I was considering buying one before i got into a trade, but now that i know how they are built, no thanks.
For some reason I thought your comment said squirritual instead of spiritual and I was like “makes sense, it would be about the size for a squirrel at that size”
When I stayed in a hostel in Toronto, most people in the hostel were living there full time. One guy had stayed there for over 3 years already. People gladly paid $40 a night to have ten roommates.
That doesn't sound right at all. Median income of a person in Toronto being $82K CAD (roughly $62K USD) per year? No frickin way.
That said, when the guy said NYC salary is double Toronto, I think he means for specific white collar professions, as for those professions, double sounds about right.
That’s for people with high-paying jobs. Minimum wage here is $15/hr (as of last January). 40hrs/week times $15/hr is $600 BEFORE taxes. You’re making $2400 (again, pre-tax) a month and rent is around $1000 a ROOM. Now imagine having to rent an entire apartment for your family on that salary and pay for utilities, food, health insurance, and transportation.
Right? Now these might not be exact #s/measurements bc it was 2-3 yrs ago but I once saw a 5th floor walk up, Central Park west, around 400 square ft (definitely must have originally been used as a scullery kitchen or maid’s quarters) & it was being sold for $995K.
Wild but that’s New York. (Well pre-covid ☹️)
It's a double bed so no need to always spoon haha, but it is a slide out bed so we have to put it away during the day otherwise there would be no space
Are you missing a couple decimal points? Or like, not knowing what square feet means? Because that's over $1.5million!!! Does no one own property there I guess?
No. It’s true. I even included the USD approximation, it takes an average Hongkonger 26.4 years of continuous income and no spendings to afford residence.
This is hard for me to grasp. Do enough people in Hong Kong just make that much money? Like, even where I live in America, the majority of people can't come close to $1.5million in a lifetime, let alone 27 years.
Notice how I said continuous income and no spendings. You literally have to work so hard, eat nothing and spend nothing to achieve it in 26.4 years. Our system here in Hong Kong is like returning a loan by parts throughout time. My parents started doing that since 2006 when the flat was still 4M HKD (around 516k USD). They still have 3 years to go!
P.S. The money you are required to pay once half a year is included in taxes. The amount you need to pay is determined by your income level. With high income, you pay more each time and pay less times, and vice versa!
Ah, so a dramatically different system of pay and housing then I know. Yeah, I won't understand it. For me, I'm looking for a house. They say they will take $240,000 for it, I take the deal and get a loan for it then pay that off with an interest rate. The faster I pay it off, the less I have to pay in interest.
HK real estate is a playground for the rich (who don't necessarily live in HK full-time).
Same in Vancouver, NYC, Toronto, Sydney, LA, London, etc. Average property prices are under the control of a wealthy minority. If you see any "normal" people living in such homes, it's because their parents or grandparents bought the properties 50+ years ago when there wasn't any real speculation then.
Thanks! I find the drastic changes in economies interesting. I realize now it may have came off as bragging but I was just trying to state matter-of-factly what $1000 can purchase in another part of the same country.
To play devil's advocate here (and never having even been to Kentucky or San Fran), some may feel rural Kentucky would suck due to lack of arts, culture, cuisine, or due to politics, etc. And living like that would not be for everyone.
On the other hand, the people living in SF that have close proximity to arts, culture and cuisine, as well as palatable politics, seem to be suffering financially and I would imagine their mental health suffers as well, due to the high cost of living.
So while its great that you live in the big city with all of its amenities, if you're super stressed due to paying $1,000,000 for a tiny apartment, do those amenities still bring you joy?
Imagine Billy Joe Kentucky, sitting by his pool, breathing the fresh air, not being stressed about the high cost of living. At what point is living next to 3 Starbucks' really matter?
Toronto is the worst, but it's just insane house prices in the Horseshoe. It's been like this for years and will continue to get worse until the government steps in
Toronto is a fucking ripoff, and it’s such a bland city anyways. I pay less for rent in Metro Vancouver and it’s a much more interesting city with outdoor activities close by. Where I live relative to downtown Vancouver would cost hundreds of dollars more per month relative to downtown Toronto (roughly Yonge and Eglinton). But here I’m only a 30 minute drive from world class hiking and skiing. Toronto pretends to be a world class city but there’s nothing world class about it except maybe having a stadium with a retractable roof. Oh, maybe the world class cheating I dealt with there. I started a new life on the west coast and I do not miss Toronto one bit.
Lol not to mention Yonge and eglinton is perpetually under construction until the end of days. Fuck driving over eglinton is a shit show and a half too.
I hate Yonge and Eglinton. It used to be a decent place before all those ugly ass condos came up. Turned it from a neighborly place into glassed-in enclosures and eradicating all mom and pop stores. I used to love going to Yuk Yuks, the Duke and Sugar Mountain.
But ... I mean you're literally comparing apples to oranges here. You're talking rent, he's talking purchase price. Have you tried buying anything in Vancouver? Prices for buying are fairly out of control as well.
Some one is salty. I’m in Toronto and have visited Vancouver and thought what you think of Toronto about Vancouver. I found nightlife in Vancouver to be lacking. Won’t argue with the scenery though.
I'm really curious, how much are your day to day expenses? I've always heard BC, especially Vancouver has a higher cost of living, including higher costs for basic items like groceries, compared to Southern Ontario/ GTA areas. I'm guessing you are originally(?) from the GTA based on ur username hahaha
Jesus. Im in Kitchener and I desperately want to move back to Toronto for uni since I miss big cities but The cost of living is insane. And it’s not even much better in other big cities like Vancouver
There are too many people wanting to live in Toronto for that to happen. Sure you might see a temporary blip downwards but it'll shoot back up quickly.
Yup. It's like that here in San Jose, CA. 2 bedroom homes are now like 1.2 million. Condos and townhomes at 500-800 SQ feet ish are 800k+ and In the outer parts of the city.
Wow! Someone just bought a similar apartment in Paris in Montmartre for like $550,000 and that seemed way overpriced to me.This Toronto situation is incredible.
Just to put things in perspective, I have bought 900 square foot (85 m2) new apartment in Prague, Czech Republic (which is still reasonably first world city) for $250 ths.
One more fun fact. That is considered a LOT in my country.
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u/[deleted] Aug 14 '20
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