NSW Discounting in inner west Sydney

US has massive road infrastructure and cheap cars, this has allowed population, businesses and jobs to spread fairly evenly across the whole continent. I worked in the US for 2 years and most people at my office lived 50-100 miles from office yet their commute time was less than someone living 10km from Sydney CBD thanks to the mass network of highways and interstates in the US.

The reason prices are high in Sydney, Mumbai, Toronto, Shanghai or any other major global population centre compared to an average US city is simply clustering of opportunities in CBDs forcing people to compete for shorter commute times to good jobs.

Build 4-5 new motorways into and around Sydney, force all CBD based major companies to move their Head offices atleast 20k outside Sydney CBD and nobody would want to pay massive premiums to live closer to CBD.

 

Toronto is not clustered in the CBD. My husband is from there and there are many self contained centres with lots of jobs and infrastructure. Way more than the equivalent in Sydney.

Your idea about building new highways is from 100 years ago lol. The areas like that in the US are the ones that are considered the ugliest and least desirable to live in and that's pretty universal across most big cities around the world.

Big companies barely even pay tax, good luck "forcing" them to do anything

 

I couldn't edit my post above so will paste this here: List of municipalities in the Greater Toronto Area - Wikipedia

Their biggest municipality of Mississauga, essentially a self-contained secondary city, is 50% bigger than Canberra in population. Brampton is a bit smaller. And Sydney people think Parramatta is a CBD...

 

Entirely wrong... I know Toronto very well. Downtown Toronto has the highest concentration of skyscrapers in North America only after New York and Chicago. Like Sydney, a massive majority of white collar jobs are heavily concentrated in Downtown.

News for you .. housing itself is 1000s of years old idea.

 

Lol, I'll let him know that your "knowing it very well" trumps his 15+ years of actually living there.

It's not "like Sydney" at all. In Sydney, pretty much all professional office-located jobs (with a small number of exceptions) are in the CBD/North Sydney/inner suburbs around the city.

Mississauga, on the other hand, is almost 30km from the centre of Toronto but has the offices of over 70 Fortune 500 companies - there are nine in the whole of Australia. The average house price is comparable to Mt Druitt.

Of course, the city of Toronto has a large number of professional jobs too but the overall distribution of these is not like any Australian city.

 

You obviously are the repository of all knowledge (Like Tony Abbot said).

Get your facts right. Canada doesn't even have 10 Fortune 500 companies. See here:
Fortune Global 500 - Wikipedia

If you mean 70 Fortune 500 companies have offices in Mississauga, Sydney will have offices of over 90% of them if not all.

 

I think Ross Greenwood's producers are reading this thread! 9News: Prices Plummet - MoneyAction