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The NYT Almanac has cost of living figures for American cities. There's NYC and everyone else. Even food costs are much higher there. The place is very expensive. The bigger the city gets the less time, space and money the residents have.
Toronto is a great city, perhaps next to London, my favorite city in the world.
That being said, Toronto needs to rethink its growth strategy. The GTA is growing rapidly but public transport remains very weak. Lack of transport between major hubs is baffling? Why is there no high speed rail or GO train between Kitchener/Waterloo/Cambridge and Guelph to Toronto? Why is there no subway to Mississauga/Brampton?
An efficient public transport would go a long way to unclog the major 401 west artery.
I also know that Gardiner-DVP-404 is horrible to drive through from 4-6pm mon -fri, lucky I don't travel that route.