Toronto is headed toward a scenario where nearly two-thirds of residents will be in the low income bracket by 2025, according to a study to be released today.
An update of the Three Cities within Toronto study from 2007 continues to paint a “devastating picture” of income “segregation” by neighbourhoods in the city, according to one source who has seen the report.
The latest update points out that if trends continue, by 2025 a total of 10 per cent of the city will be middle income earners, 30 per cent upper middle income, and a whopping 60 per cent in the low to very low income bracket, sources day.
That’s quite a swing from 1970 when 66 per cent of Toronto neighbourhoods were middle income, 15 per cent upper income, and 19 per cent low income.
The latest study doesn’t blame municipal governments for the income trends, but one observer pointed out that the report’s release is timely given the new fiscally minded administration at city hall headed by newly elected Mayor Rob Ford.