Tag: canada
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Canadians moving to the U.S. Hits a 10-Year High
The number of Canadians emigrating to the United States has surged to a level not seen in over a decade. Data compiled by CBC News from the American Community Survey (ACS) indicates that 126,340 Canadians moved to the U.S. in 2022, marking a 70% increase from the 75,752 who made the move in 2012. Increased…
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Ministers propose that one way to decrease temporary Canadian residents is by making them permanent
Canada’s Immigration Minister, Marc Miller, recently announced a strategy aimed at reducing the number of temporary residents in the country. The government’s goal is to lower the percentage of temporary residents from 6.2% in 2023 to 5% by 2027 by converting many of them into permanent residents. “We are looking at ways to ensure our…
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Canadians owe nearly $1.85 for every $1 of disposable income, according to a study by RBC.
In recent times, Canadian households have seen a notable increase in their debt-to-income ratios. As of the first quarter of 2023, this ratio reached an alarming 184.5%, indicating that Canadians owe nearly $1.85 for every dollar of disposable income. A study by RBC highlighted that individuals between the ages of 35 and 44 have an…
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How much it costs to rent in Canadian cities – April 2024
Canada’s Rental Market Overview: Price Trends Across Major Cities The rental landscape in Canada continues to witness fluctuations in pricing, shaped by various economic forces. According to the latest data from Urbanation and Rentals.ca, the average rent for all residential properties in Canada was pegged at $2,181, marking an 8.8% increase from the previous year.…
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47% of Canadians are living paycheque to paycheque, according to a recent poll.
The financial landscape for many Canadians is becoming increasingly challenging. Factors like inflation, escalating rent and home prices, rising interest rates, and hefty taxes are stretching personal finances thin. Recent studies indicate that nearly half of the working population in Canada is living paycheck to paycheck. Understanding the Pressure on Personal Finances For many Canadians,…
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Trudeau Announces Bold, Multi-Billion Dollar Plan To ‘Solve’ Housing Crisis
As Canada grapples with a severe housing affordability crisis, Prime Minister Justin Trudeau has introduced a comprehensive multi-billion dollar strategy aimed at transforming the nation’s housing landscape. This ambitious plan, detailed in the 28-page document “Solving the Housing Crisis: Canada’s Housing Plan,” seeks to facilitate homeownership, improve housing for the unhoused, and enhance tenant protections.…
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According to a new report by Zoocasa, Toronto is now less affordable than New York and Miami
A recent study by Zoocasa highlights a growing disparity in housing affordability, with Toronto emerging as significantly less affordable compared to major U.S. cities like Miami and New York. This comprehensive analysis underscores the affordability crisis facing Toronto residents, driven by lower median incomes and higher home prices relative to these metropolitan hubs in the…
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Here’s how much it cost to buy a home in Toronto in the 1960s
For many Toronto residents, the dream of homeownership has become increasingly elusive, a stark contrast to a time not so long ago when single-income families could easily buy a house in the city. A throwback advertisement that has resurfaced on social media highlights the dramatic rise in housing costs, showcasing a two-storey home from the…
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Trudeau proposes Canadian Renters’ Bill of Rights to ease housing crisis
In a landmark move aimed at stabilizing the increasingly volatile housing market, Prime Minister Justin Trudeau has introduced a groundbreaking Canadian Renters’ Bill of Rights. Announced from East Vancouver – Canada’s priciest city for renters – this initiative promises significant changes to support young Canadians struggling to find their footing in today’s challenging economic landscape.…
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Toronto’s proposed “rain tax” sparks controversy
Toronto is on the brink of implementing a “stormwater charge” alongside incentives for stormwater management and a supplementary water service charge. This innovative approach could transform the city’s water infrastructure handling and bolster its environmental stewardship. The proposal emerges from the urgent need to revamp Toronto’s outdated stormwater infrastructure, which is increasingly overwhelmed by the…
Canada Housing Market 