Toronto 12th costliest city in the world says Swiss bank

Toronto is the 12th costliest city in the world, according to the Swiss bank UBS. Much media has been tempted to juice this statistic a bit.  But whether Toronto is “one of the most expensive cities in the world” or just the 12th such community the driver of the cost metric is housing. It is not clear if UBS understands that in Shanghai there are only two places to send your precious children. They are Toronto and Vancouver and quite often we buy them a house. But what a value it is to buy and operate a car in Toronto. It is surely better than any other great city – great city mind you. Try buying a Lexus in London. Ugh.