You really going to ignore 8 years of inflation, particularly given home price and rent inflation in that time?
Unfortunately it's the best data out there.
It doesn't change that downtown is below the provincial average though. I hadn't seen those Toronto sheets - and we've all heard stories about the data problems in the National Household Survey with strange results, and certain groups being very underrepresented. Also, I don't see married family breakdowns in it.
Still, looking at
Toronto-Centre, downtown - the median family income is $47,675 compared to $58,381 for the city as a whole. So the case that downtown family incomes are much higher isn't supported by the data - if anything they are lower.
Area C (Toronto and East York) has average household income of $90k. So I guess I was wrong. It's not 40% below average. It's 33% below average.
That's the average though. That's hugely mis-leading and is biased by those with huge salaries. Go to page 12, and you'll see though the average is $90,567, the median is only $58,697. Which means 50% are below $58,697!
What happens to the average middle class family that either doesn't want or would not be eligible for co-op housing?
You think a co-op that has a $ requirement would stop a family of 4 earning $60K? I think the co-op I linked has no $ limits. You could earn $1-billion a year. Why do you think co-ops would have a $ limit? It's privately owned, and may not have any government subsidy. I don't think you know what a co-op is!
Or heck, can't really endure the near decade long waiting list for many of these places in the core.
Isn't that exactly how we started this discussion? That voting for someone like Tory who thinks you need $100,000 to live in Toronto is not the direction we should be going?
Not that I'm against co-ops, but I'd like to know how they aren't subsidized living?
What has co-ops got to do with subsidized living? It's simply a building that's owned by a non-profit co-operative rather than a corporation making a profit. Some may be subsidized. Some aren't. Some may have some internal subsidy going on.
Mountain Equipment Co-op is a co-op that runs a store selling things. Do you think it is subsidized?