Sunday, August 3, 2025

Latest

Toronto Mayor John Tory Wants You To Learn Real Estate From Monopoly Instead

Yes, the board game, which–according to the 68-year old PC mayor–is sometimes better than a “financial literacy course.”

As Toronto battles an impending housing crisis, its Mayor John Tory warned that real estate investors and landlords could go broke should they contribute in exacerbating the problem with rising costs. To illustrate his point, he encouraged everyone to play the board game Monopoly.

“Monopoly is a fun game but it’s also one that has a lot of lessons in it,” quipped Tory. “And there are lessons that also help people to better citizens and better residents.”

Tory also said that the board game teaches you “the bad parts of greed.”

“If you go too far to try to buy too much houses and charge too much rent to people and say, ‘I’m gonna get rich’? That could often have a very bad ending,” he explained. “If you spend all your money too quickly on buying things up and think you’re gonna be sort of the biggest landlord in this game, you could end up broke.”

Tory reportedly maintains four separate homes including an $8 million condo in Yorkville and a Palm Beach property.

Twitter user @CanadaRecord also pointed out the irony that while Tory preaches the values of the board game, the mayor continues to “work at Rogers [Real Estate Development] in multiple roles at the highest levels.”

The Toronto Mayor just recently unveiled his administration’s plan to address the housing issues, logically titled 2023 Housing Action Plan.

“We as a city government need to take a more aggressive approach to addressing the acute affordability and housing crises facing our city,” Tory said in a speech.

The plan will be presented to the city council on Wednesday, and the City Manager will be asked to report on how each item will be authorized and implemented, including dates by March 2023.

Included in the plan’s goal is reaching the provincial housing objective of 285,000 new houses over the next ten years by addressing all areas of the housing spectrum, from student housing to affordable housing to housing targets in the Port Lands and on the Waterfront.

Tory added that the plan will also attempt to “bring the city into the 21st century by removing the exclusionary zoning that has focused growth in just a few areas of the city and prevented Torontonians from having a variety of housing choices.”

Toronto was recently placed the most at-risk city to a real estate-induced market collapse. The ranking was made by UBS Global Real Estate Bubble Index which evaluates the top 25 major cities in the world based on the risk of a market collapse, assigning index scores to the housing market in each city, with scores over 1.5 signaling that a city is likely in a bubble.

The index warns that Toronto, with a score of 2.24, and Vancouver, with 1.70, are the two most at-risk cities in North America – while Toronto is the most at risk globally.


Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

AngloGold Buys Another Gold Junior! Augusta Gold Acquired For $197 Million

Another Gold Deal! Aris Mining Sells Assets To McFarlane

Royal Gold Goes Big | $3.5 Billion Sandstorm Acquisition

Recommended

Tsunami Warnings Spread As Largest Quake Since 2011 Hits Russia

Northern Superior Intersects 1.75 g/t Gold Over 65.0 Metres At Philibert

Related News

Barry Sternlicht Warns of More Bank Failures: ‘Every Week, Maybe Two A Week’

Barry Sternlicht, CEO of Starwood Capital Group, warns that we’re potentially “going to see a...

Friday, May 10, 2024, 07:48:08 AM

US Existing Home Sales Fell 2.5% in November as Low Supply and High Prices Pushed Buyers out of Market

Following what were five consecutive months of growth, existing home sales declined by 2.5% in...

Tuesday, December 22, 2020, 02:45:00 PM

Commercial Property Foreclosures Increasing Across US as COVID-19 Forbearance Relief Expires

Although the coronavirus pandemic is showing no signs of dissipating anytime soon, many pandemic-related emergency...

Tuesday, October 6, 2020, 05:07:03 PM

Canadian Housing Starts Fall 5.3% in October

The pace of housing starts across Canada is showing signs of losing momentum, which could...

Wednesday, November 17, 2021, 02:41:00 PM

US House Down Payments Skyrocket by 69% to 20-Year High as Banks Tighten Lending Terms

As home prices in the suburbs and rural regions across America soar to record-highs propelled...

Saturday, November 28, 2020, 03:30:00 PM