> I regularly see fast food or other low income workers wearing $1000 worth of designer clothing while carrying a brand new iPhone or something, while taking the bus.

I always found it interesting that I see more younger people wearing Canada Goose (not during winter), Comme des Garćon, Y-3, etc. in Toronto. Yet this is the city I hear the most from in terms of indebtedness, rising cost of living, being priced out of the city, tough for millennials, etc.