I write a lot about New York City on this blog; more than any other city in the world.

It’s not so much that I think Toronto is similar to NYC, but rather the comparison is apt.

Toronto is the biggest city in Canada, the most famous, the most multicultural, the most dynamic, and it’s the centre of commerce for the country.

I believe that if we looked south of the border, the same would be true of New York City.

They are also both, historically, the hottest real estate markets, and while Vancouver’s average home prices are higher, I just don’t see the same dynamic industry there as I do in Toronto.

I have actually only been to New York City twice in my life.  The first time, I asked my loyal blog readers what to see, where to do, and what to do.  I got more suggestions than I could handle!  But we did have dinner at two restaurants that were recommended to us, and saw some suggested sites too.

Despite not being a regular NYC-visitor, I remain obsessed with their real estate market.

Several times per month, I find myself looking up properties, and this week I was spying on the cheapest properties available in the city.

What I found, in addition to some very high prices, were an abundance of “room shares.”

On the Toronto MLS system right now, I found exactly one room share for a downtown condo.

On Realtor.com, which is the American version of the Realtor.ca that none of you use, because you’re all using Bungol, there are hundreds of room shares.

Let’s look at one of these examples:

14 Saint Marks Pl Unit 8C, New York, NY 10003
$1,395 per month

SRO (Single-room occupancy) dorm style studio unit with multiple shared hallway bathrooms on one of the most iconic streets in the heart of the East Village.  Available for immediate move in.  Impossible to beat this value! The unit is apx. 6 x 13 and comes with a fridge, microwave, and sink. Hallways and bathrooms were recently renovated. Bathrooms get cleaned by building staff 2x per day, and with 3 per floor there is never a wait!  No short term leases. Guarantors accepted.

This room is 6 x 13.  That’s 78 square feet.

It’s basically a bed that’s raised above a space below where you could put a couch, a desk, or both.

The bathrooms are common, down the hall, like in a university residence.

There is a fridge, microwave, and sink.

I like how they feel the need to specify a sink.  Thank God there’s running water, right?

This is a whopping $1,395 per month USD, or $1,885 per month CAD.

And it’s in the heart of “Noho,” which, despite my old-man demeanour, I have actually heard of…

That place might have been a bit depressing, but it’s location!

How about this one:

2118 3rd Avenue, New York, NY 10029
$1,395 per month

This listing is for a private furnished room professionally managed by Big Apple Living. For students and young professionals. The building is a gut renovated former beer factory with exposed concrete, open space, and soaring windows in the heart of Williamsburg!You will share a kitchen, bathroom, and living area with other vetted roommates. All vetted by our team at Big Apple Living. Utilities are additional $100/month (Includes: Electricity, WIFI, cable, gas, heat, water)

Okay, now we’re cooking with gas!

Beautiful apartment!  Looks like something out of a magazine!

And yet again, as you can see from the photos, and read from the description, this is a “room share.”

Unlike the first property, this has a beautiful living room, kitchen, and common area.

I know it’s literally like being back in university, but what other solutions to we have to solve a rental problem, aside from giving away free housing, or printing money, or anything else the naive and uninformed would suggest?

Yes, it’s a room.  People would rather live in their own apartment.  But it’s $1,250 per month in New York City.

Oh, and why is it so nice compared to the first listing, yet cheaper?  It’s in East Harlem.

Let’s look at one more:

2284 7th Avenue, Unit 2, New York, NY 10030
$1,253 per month

This listing is for a private room in a shared apartment professionally managed by Bedly. You will share a kitchen, bathroom, and living area with other vetted roommates. All Bedly renters go through a background check and application process. We offer over 600 rooms across metro NYC & Boston.  Bedly rooms come fully furnished with utilities, WiFi, and 2x monthly cleaning included. To move-in, we collect first month rent, last month rent, and a one-time membership fee. The apartment is in a newly renovated building 7th Ave, aka Adam Clayton Powell Blvd in between West 134th and 135th street.  This is a single room in a four-bedroom, 1.5-bathroom apartment located on the second floor of a walkup building. The apartment is spacious and modern with hardwood flooring and exposed brick throughout. The unit features an open kitchen, and living area / dining area with a dining table set and sofa. All common space is shared with two other renters. The bedroom is furnished with a full-size bed and side table. The room has two large windows overlooking the neighborhood and it has finished wood floors with off-white painted walls, bright white trim and one exposed brick wall. The room also includes a standard closet for extra storage.

So now you get the layout, right?

A university dorm, but for adults.

But how many places do you think a person can find to rent in New York City for $1,253 per month?

The downside here is obvious, and no, I don’t mean sharing.  I mean trusting “Bedly” and “Big Apple Living” to actually vet potential roommates, not to mention solving disputes, and providing a safe living environment.

But you have to admit there is something here.  And while it’s not glorious living, I think providing renters with an option, is better than not.

There are room shares here in Toronto, but not in abundance, and not on Realtor.ca.

So do you think Toronto is ready for this?

Do you think the City of Toronto would stand in the way of progress, or at least try to over-regulate and tax the hell out of this?

Do you fear the big, bad landlord more than you value innovation?

Or are we all just back to wishing the government would build 100,000 condos and give them away for free?

In lieu of fantasy, and for those brave enough to acknowledge reality, this city is growing at an unsustainable pace, as are real estate prices.

Innovative housing solutions are needed, and taking a cue from New York City and others around the world isn’t a terrible idea…