Image of the day: areas of Toronto which are losing people
As incomes rise, people want more space
your regular reminder that large areas of the city of Toronto are losing people (measured either in aggregate or in persons-per-household)
As people’s incomes rise, they want more space. If you’re not adding enough floor space to keep up, what happens is that the cost of floor space rises, and the population shrinks as lower-income households get pushed out.