Too Long; Didn't Read
I was sitting on my balcony yesterday afternoon, watching the blinking lights of the CN tower and the cityscape of Toronto in the distance, contemplating the nature of life and reality when a thought suddenly came to me: “wow, I’m paying a lot for rent”. A similar thought has probably crossed the mind of anyone who lives in one of the economic engines of the industrialized world: Toronto, New York, Vancouver, Sydney, London. The rent prices of these urban centres has become astronomical, yet people keep coming, and the prices keep rising. Why? Besides the pull of excitement and culture, much of the unyielding demand for housing in these areas comes from economic imperatives.