Toronto: Desirable but expensive
Highly desirable but seriously unaffordable? That’s the Toronto Community Foundation’s verdict on Toronto.
In the annual Toronto’s VitalSigns report, Toronto scores highly on measures of innovation, diversity, creativity, education and environmentalism. But before we pop the champagne, the report also finds that housing, food and childcare, among other basic goods and services, are increasingly unaffordable, especially for new immigrants and seniors.
The report concludes with alarm that “if you’re poor, you’ve gotten poorer. If you’re old you’re more likely to be poor. If you’re new to this country the recession has hit you hardest. And if you’re young, brace yourself for what’s ahead.”
Sounds like Toronto will need every ounce of innovation and creativity at its disposal to face the challenges ahead. What’s one thing you would do to improve city living?
Read the full report here (pdf).
Kathryn provides market intelligence services to MaRS Advisory Services clients and to The Innovations Group at the University of Toronto. She is a graduate of the University of Toronto's Faculty of Information.
