Toronto has often been accused by Canadians near and far of wanting to be like New York City. If that's true, it might be one step closer to achieving that goal, thanks to recent wealth management research by UBS AG, which states it's now more expensive to live in T.O. than NYC. The UBS Wealth Management report, dubbed "Prices and Earnings", examined price levels in 73 urban centres, including rent, wages and purchasing power.According to the report, Toronto and Montreal rank ninth and 17th respectively among the world's priciest cities - yet Vancouver is nowhere to be seen on its list. Go figure. Vancouver, after all, is regarded as being Canada's most vibrant housing market. Why the researchers bypassed B.C.'s largest city is unknown.
It's too bad UBS' high rankings for Toronto and Montreal does not extend to salaries too. The two cities sit 14th and 15th respectively in gross wages.
These are tough times indeed for Canada's most populous city, but despite the high cost of living, Toronto remains a fine place to live and work; it's still a so-called "world class city" - to use a popular phrase. But some might suggest it's not the cost of living that's rendering T.O. a potentially poor choice in which to live, but rather the current state of the municipal government.
The top 10 most expensive cities are (in order): Oslo, Zurich, Geneva, Copenhagen, Stockholm, Tokyo, Sydney, Helsinki, Toronto, and Singapore.
, On Wednesday August 17, 2011, 3:54 pm EDT
www.yahoo.com
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