Middle-class life isn’t what it used to be. Thanks to a heated real estate market, a strong dollar, new taxes and stagnating incomes, Toronto has become, improbably, one of the world’s most expensive cities. Is it worth it?
(Illustration by Julien Pacaud; skyline photo by Brian Summers)
Today, an average Saturday, I spent the following: $6 on a round-trip TTC ride; about $17 on groceries from the Wychwood Barns farmers’ market (organic Crispin apples, an olive boule and free-range eggs); $34 on two bottles of wine (one decent, one plonk); almost $20 on the recent Superchunk CD and $11 on toiletries. Lunch was cheap and simple: a peanut butter sandwich, an apple and a few spoonfuls of raspberry yogurt. Dinner was free: homemade rice-and-bean burritos at a friend’s house. On the way home from that modest dinner party, waiting forever for the Dufferin bus, I almost splurged on a cab, but it seemed wasteful. Then I got home and booked a flight to New York on Porter for a friend’s 40th birthday: another $326. There’s also what I spend on my mortgage, property taxes, insurance, utilities, cellphone, Internet, YMCA membership, charitable donations and credit card debt. All of that adds up to roughly $65 a day. So, as a childless, home-owning, not-terribly-extravagant-but-not-entirely-miserly-either Torontonian, this one day at the tail end of 2010 cost me—not counting the airfare, which, for argument’s sake, I’m setting aside as an exceptional expense—about $153.
That doesn’t sound like a lot, but it’s about $20 more than what I make every day, after taxes. And it leaves nothing, obviously, for home repairs, clothing, vet bills, investments, medical expenses, birthday presents, savings, recreational drugs, holidays or the kid that Liz, my fiancée, and I have been talking about having this year but which, if things continue in this fashion, we’ll have to postpone having until we get jobs that net us more than $50,000 each a year. Read the rest of this entry »
At Fromagerie, the latest culinary addition to the ever-evolving Junction foodscape, the wide-plank floors, exposed brick and enormous vintage glass windows lend an Old World vibe. Husband and wife team Jeff Brown and Jennifer Rashleigh take an equally continental approach to their stock: a carefully curated selection of house-churned butter, lush preserves of organic Niagara fruits, and rare wheels of small-batch cheeses, including the irresistibly rich and ripe Grey Owl goat milk cheese pictured here ($7.40 per 100 g). A slice of baguette, a bite of cheese and a dollop of apricot jam, and the Junction could almost pass for a Parisian arrondissement.
No neighbourhood will react the same way to a burst bubble. We talked to market watchers, economists, mortgage brokers and seen-it-all real estate agents for the scoop on where to park your money, what streets to avoid and when to sell, sell, sell 
Jokes
