Fans spend over 2k to see Taylor Swift in Toronto
Taylor Swift has officially begun the last leg of her infamous Eras Tour, and she is finally gracing Canada with her presence — with six Toronto concert dates in November and two Vancouver concerts in December. The Eras Tour started in March 2023 and tickets were snatched up immediately, with many ending up on resale sites like Stubhub. This was disheartening for die-hard Taylor Swift fans, who were left without tickets and either unable or hesitant to purchase them at their astronomical resale prices. That being said, the tour is set to do wonders for the local economy in each city Swift stops in, so there were certainly some people willing to pay a pretty penny to dance the night away with the singer and fellow adoring fans. But how much, exactly, are people shelling out to attend this tour? Enough to fund an elaborate vacation or pay multiple months worth of rent on a Toronto apartment. So, how are Taylor Swift fans justifying the expense? Here’s what this fan has to say.
Taylor Swift has officially begun the last leg of her infamous Eras Tour, and she is finally gracing Canada with her presence — with six Toronto concert dates in November and two Vancouver concerts in December. The Eras Tour started in March 2023 and tickets were snatched up immediately, with many ending up on resale sites like Stubhub. This was disheartening for die-hard Taylor Swift fans, who were left without tickets and either unable or hesitant to purchase them at their astronomical resale prices. That being said, the tour is set to do wonders for the local economy in each city Swift stops in, so there were certainly some people willing to pay a pretty penny to dance the night away with the singer and fellow adoring fans. But how much, exactly, are people shelling out to attend this tour? Enough to fund an elaborate vacation or pay multiple months worth of rent on a Toronto apartment. So, how are Taylor Swift fans justifying the expense? Here’s what this fan has to say.
Half of millennials and Gen Z hope to buy a home
Despite more than half of millennials (55%) and Gen Z (58%) feeling that homebuying remains out of reach, a majority (58%) of Canadians aged 18 to 43 are still determined to purchase a home within the next five years. This is according to Scotiabank’s latest housing poll. "Canadians continue to face barriers in today's challenging housing market. While homeownership may feel out of reach for many young Canadians, their determination to achieve it remains unwavering," Tracy Gomes, Scotiabank’s senior vice-president of real estate secured lending, said in a statement. "With the overwhelming amount of information available, especially for first-time and recent homebuyers, we at Scotiabank are here to support our clients with our tailored financial advice and tools to help them achieve their dream of homeownership." Some of that hope is thanks to the first interest rate decrease in four years.
Despite more than half of millennials (55%) and Gen Z (58%) feeling that homebuying remains out of reach, a majority (58%) of Canadians aged 18 to 43 are still determined to purchase a home within the next five years. This is according to Scotiabank’s latest housing poll. "Canadians continue to face barriers in today's challenging housing market. While homeownership may feel out of reach for many young Canadians, their determination to achieve it remains unwavering," Tracy Gomes, Scotiabank’s senior vice-president of real estate secured lending, said in a statement. "With the overwhelming amount of information available, especially for first-time and recent homebuyers, we at Scotiabank are here to support our clients with our tailored financial advice and tools to help them achieve their dream of homeownership." Some of that hope is thanks to the first interest rate decrease in four years.
The brawl over a backyard ice rink
When the COVID-19 pandemic hit, Markham, Ontario hockey dad, Martin Ross, built an ice rink in his backyard so his two children could continue to skate amid the public health measures in place during lockdown. Now, Ross is locked in a battle with his neighbours and the courts over the legality of the backyard rink in the picturesque and historic Unionville neighbourhood. His setup isn’t a typical backyard rink, he told a local news outlet that it’s built on a concrete pad and has proper boards, netting and a chiller system to extend its season. “It’s not makeshift,” Ross told Speakers Corner. Canada may be a hockey-loving nation, but as Ross’s historic home was built in 1859 — making it older than the modern game of hockey and officially a heritage property — the city had a cold response to his unapproved project.
When the COVID-19 pandemic hit, Markham, Ontario hockey dad, Martin Ross, built an ice rink in his backyard so his two children could continue to skate amid the public health measures in place during lockdown. Now, Ross is locked in a battle with his neighbours and the courts over the legality of the backyard rink in the picturesque and historic Unionville neighbourhood. His setup isn’t a typical backyard rink, he told a local news outlet that it’s built on a concrete pad and has proper boards, netting and a chiller system to extend its season. “It’s not makeshift,” Ross told Speakers Corner. Canada may be a hockey-loving nation, but as Ross’s historic home was built in 1859 — making it older than the modern game of hockey and officially a heritage property — the city had a cold response to his unapproved project.
StatsCan’s first reno index shows cost increase
Statistics Canada has released info from the first Residential Renovation Price Index (RRPI), which aims to provide a clearer picture of the changing costs associated with home renovations. The RRPI provides indexes for 37 individual renovation projects, which are organized into eight renovation project groups and calculated across 15 census metropolitan areas (CMAs). “There has been growing interest in understanding price changes in this sector in recent years, as increasing renovation activity has led residential renovations to account for a growing share of gross fixed capital formation in residential structures,” a release on the RRPI reads. “The RRPI will complement existing price indexes for residential construction.” Data for 11 CMAs began in the first quarter of 2017, while the data collection was expanded to capture four additional CMAs beginning in the first quarter of 2023.
Statistics Canada has released info from the first Residential Renovation Price Index (RRPI), which aims to provide a clearer picture of the changing costs associated with home renovations. The RRPI provides indexes for 37 individual renovation projects, which are organized into eight renovation project groups and calculated across 15 census metropolitan areas (CMAs). “There has been growing interest in understanding price changes in this sector in recent years, as increasing renovation activity has led residential renovations to account for a growing share of gross fixed capital formation in residential structures,” a release on the RRPI reads. “The RRPI will complement existing price indexes for residential construction.” Data for 11 CMAs began in the first quarter of 2017, while the data collection was expanded to capture four additional CMAs beginning in the first quarter of 2023.
'Sandwich Generation' anxious of caregiving costs
Almost three-quarters of Canadians (71%) who are raising kids and caring for elderly parents firmly believe they would benefit from financial planning advice. Known as the "sandwich generation," these Canadians feel obligated to care for their younger and older relatives according to a survey by HomeEquity Bank and Ipsos. Additionally, nearly one-third of Canadians have made a promise to keep their aging parents out of long-term care. That promise may be difficult to keep. "We're committed to reshaping the conversation around ageing and raising awareness about the unique issues that retired or retiring Canadians face. That includes the often complex relationship between parents and adult children," wrote Vivianne Gauci, HomeEquity Bank’s senior vice-president of customer experience. "We knew the sandwich generation was under pressure but the research revealed just how worried they are,” explained Gauci. “They want to honour their parents' decisions, but that can come with both stress and financial strain, underscoring the importance of planning and communicating now for the support and resources that may be needed later." Aside from the financial concerns, those in the sandwich generation are worried about the time commitments, quality of care and more.
Almost three-quarters of Canadians (71%) who are raising kids and caring for elderly parents firmly believe they would benefit from financial planning advice. Known as the "sandwich generation," these Canadians feel obligated to care for their younger and older relatives according to a survey by HomeEquity Bank and Ipsos. Additionally, nearly one-third of Canadians have made a promise to keep their aging parents out of long-term care. That promise may be difficult to keep. "We're committed to reshaping the conversation around ageing and raising awareness about the unique issues that retired or retiring Canadians face. That includes the often complex relationship between parents and adult children," wrote Vivianne Gauci, HomeEquity Bank’s senior vice-president of customer experience. "We knew the sandwich generation was under pressure but the research revealed just how worried they are,” explained Gauci. “They want to honour their parents' decisions, but that can come with both stress and financial strain, underscoring the importance of planning and communicating now for the support and resources that may be needed later." Aside from the financial concerns, those in the sandwich generation are worried about the time commitments, quality of care and more.
StatsCan snapshot of Canadians’ financial security
Canadians nearing retirement age, namely 55 to 64 years, who have both a principal residence and an employer-sponsored pension plan, have a median net worth that is about $1.4 million more than those who have neither. This info comes from StatsCan’s 2023 cycle of its Survey of Financial Security (SFS). “The longstanding expectation is that families build up their assets and reduce their debts over their working years and spend down their assets during their retirement years,” the report reads. “Canadian families with low net worth will be more likely to need to work longer, may need more government support and may be at greater risk of poverty.” Those near retirement age who rented and who did not have an employer-sponsored pension plan had a median net worth of $11,900.
Canadians nearing retirement age, namely 55 to 64 years, who have both a principal residence and an employer-sponsored pension plan, have a median net worth that is about $1.4 million more than those who have neither. This info comes from StatsCan’s 2023 cycle of its Survey of Financial Security (SFS). “The longstanding expectation is that families build up their assets and reduce their debts over their working years and spend down their assets during their retirement years,” the report reads. “Canadian families with low net worth will be more likely to need to work longer, may need more government support and may be at greater risk of poverty.” Those near retirement age who rented and who did not have an employer-sponsored pension plan had a median net worth of $11,900.
Rate drop winners and losers
The Bank of Canada lowered its target interest rate for a fourth time in 2024, when it announced it would drop the overnight target rate by 0.50%. The BoC overnight rate influences prime rate — the base interest rate lenders use to establish borrowing costs. What does this rate decrease mean for the average Canadians? How will those with mortgages, debt, savings and investments be impacted? According to Tyler Thielmann, President and CEO of Spring Financial the winners in this situation "are the people who have variable rate debt who should see an immediate change in their interest costs and more money in their pocket each month." However, for Thielmann, deciphering who the losers are is not as easy as it seems. "Losers is a bit harder to answer; we’ll need to see how things shake out. Typically, lowering interest rates is meant to spur on the economy and encourage growth. If the economy is in fact struggling, that could have a negative impact on many Canadians. Time will tell." When asked about why the Bank of Canada is decreasing the rate, Thielmann speculated that it was to prevent an economic collapse due to forthcoming mortgage renewals.
The Bank of Canada lowered its target interest rate for a fourth time in 2024, when it announced it would drop the overnight target rate by 0.50%. The BoC overnight rate influences prime rate — the base interest rate lenders use to establish borrowing costs. What does this rate decrease mean for the average Canadians? How will those with mortgages, debt, savings and investments be impacted? According to Tyler Thielmann, President and CEO of Spring Financial the winners in this situation "are the people who have variable rate debt who should see an immediate change in their interest costs and more money in their pocket each month." However, for Thielmann, deciphering who the losers are is not as easy as it seems. "Losers is a bit harder to answer; we’ll need to see how things shake out. Typically, lowering interest rates is meant to spur on the economy and encourage growth. If the economy is in fact struggling, that could have a negative impact on many Canadians. Time will tell." When asked about why the Bank of Canada is decreasing the rate, Thielmann speculated that it was to prevent an economic collapse due to forthcoming mortgage renewals.
Fighting eviction: How to handle tenancy disputes
Lily Isaac is facing eviction after discovering mould in her basement apartment in Riversdale, Saskatoon. She’s lived in the apartment for a year and a half and has two daughters, both under the age of two. “When the mould inspector came in, the humidity was at 85% and [they] said 35% is normal,” Isaac recently told CTV News Saskatoon. Saskatoon-based mould remediation company Got Mold? confirmed that mould is present in a windowsill in the children’s room and a ceiling area that was exposed to a leak from the unit above. Isaac also did her own home test. Holding up the testing kit, she told CTV News reporter Carla Shynkaruk that “there were six different types of mould in this container.” The mould is even more troubling for Lily because one of her daughters has a severe health condition and is immunocompromised. The landlord has said that due to her daughter’s health condition, it would be impossible to remediate the mould issue with the family still living there. Isaac was served with an eviction notice. Her family must be out of the apartment by the end of the month — and she was not given the option to move back in. Here’s what you can do if you find yourself in a similar situation.
Lily Isaac is facing eviction after discovering mould in her basement apartment in Riversdale, Saskatoon. She’s lived in the apartment for a year and a half and has two daughters, both under the age of two. “When the mould inspector came in, the humidity was at 85% and [they] said 35% is normal,” Isaac recently told CTV News Saskatoon. Saskatoon-based mould remediation company Got Mold? confirmed that mould is present in a windowsill in the children’s room and a ceiling area that was exposed to a leak from the unit above. Isaac also did her own home test. Holding up the testing kit, she told CTV News reporter Carla Shynkaruk that “there were six different types of mould in this container.” The mould is even more troubling for Lily because one of her daughters has a severe health condition and is immunocompromised. The landlord has said that due to her daughter’s health condition, it would be impossible to remediate the mould issue with the family still living there. Isaac was served with an eviction notice. Her family must be out of the apartment by the end of the month — and she was not given the option to move back in. Here’s what you can do if you find yourself in a similar situation.
Understaffing and burnout plaguing workers
A new report from Waterloo, Ontario-based Axonify revealed some of the top stresses facing frontline workers around the world. Namely, understaffing, burnout, fractured communication and customer conflicts. "Frontline teams are the backbone of these industries, yet they continue to face significant obstacles in their day-to-day roles," Carol Leaman, Axonify’s CEO and co-founder, said in a statement. "Our research shows that while there's tempered optimism, managers feel unsupported and workers struggle to keep up with customer demands. Understanding and addressing these challenges is critical to supporting the frontline workforce and ensuring long-term success." The report polled 788 frontline executives, managers and workers to understand issues impacting frontline employees and managers in the retail, hospitality, grocery, foodservice and distribution and logistics industries.
A new report from Waterloo, Ontario-based Axonify revealed some of the top stresses facing frontline workers around the world. Namely, understaffing, burnout, fractured communication and customer conflicts. "Frontline teams are the backbone of these industries, yet they continue to face significant obstacles in their day-to-day roles," Carol Leaman, Axonify’s CEO and co-founder, said in a statement. "Our research shows that while there's tempered optimism, managers feel unsupported and workers struggle to keep up with customer demands. Understanding and addressing these challenges is critical to supporting the frontline workforce and ensuring long-term success." The report polled 788 frontline executives, managers and workers to understand issues impacting frontline employees and managers in the retail, hospitality, grocery, foodservice and distribution and logistics industries.
Canadian home sales see slight September increase
National home sales increased slightly in September compared to August. The increase follows the Bank of Canada’s recent interest rate cut. "Sales gains are now three for three in the months following interest rate cuts, which is a trend even though the increases weren't headline-grabbing," Shaun Cathcart, the Canadian Real Estate Association’s (CREA) senior economist, said in a statement. "That said, with the pace of rate cuts now expected to be much faster than previously thought, it's possible some buyers may choose to hold off on a purchase for now. This could further boost the rebound expected in 2025 at the expense of the last few months of this year." This increase follows a similar pattern in the months following the previous two Bank of Canada interest rate cuts.
National home sales increased slightly in September compared to August. The increase follows the Bank of Canada’s recent interest rate cut. "Sales gains are now three for three in the months following interest rate cuts, which is a trend even though the increases weren't headline-grabbing," Shaun Cathcart, the Canadian Real Estate Association’s (CREA) senior economist, said in a statement. "That said, with the pace of rate cuts now expected to be much faster than previously thought, it's possible some buyers may choose to hold off on a purchase for now. This could further boost the rebound expected in 2025 at the expense of the last few months of this year." This increase follows a similar pattern in the months following the previous two Bank of Canada interest rate cuts.
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