Warren Buffett is buying a Canadian P&C firm
Morningstar strategist Greggory Warren was right: The Canadian stock that Warren Buffett is purchasing is the P&C insurance firm Chubb. The Canadian stock that caught the attention of legendary value investor Warren Buffett was finally revealed. Morningstar strategist Greggory Warren was correct in his prediction—with the Berkshire Hathaway (NYSE:BRK-A) chairman buying shares in the Canadian property and casualty insurance firm Chubb (NYSE:CB). While the stock price for Chubb (NYSE:CB) already rose, with word of Buffett's interest circulating among trading circles for half a year, there are similar P&C insurance firms that investors could consider.
Morningstar strategist Greggory Warren was right: The Canadian stock that Warren Buffett is purchasing is the P&C insurance firm Chubb. The Canadian stock that caught the attention of legendary value investor Warren Buffett was finally revealed. Morningstar strategist Greggory Warren was correct in his prediction—with the Berkshire Hathaway (NYSE:BRK-A) chairman buying shares in the Canadian property and casualty insurance firm Chubb (NYSE:CB). While the stock price for Chubb (NYSE:CB) already rose, with word of Buffett's interest circulating among trading circles for half a year, there are similar P&C insurance firms that investors could consider.
Canada's pension plan sells commercial real estate
What would you do if you had a dollar to spare? For Boston Properties, one of America's largest publicly traded real estate developers, that $1 investment was used to buy a stake in a Manhattan office building — specifically, the Canada Pension Plan Investment Board’s (CPPIB) 29% share of 360 Park Ave. S in New York City. CPPIB selling its holding in one of North America’s most expensive cities — likely at a loss — has sent ripples through the commercial real estate (CRE) industry, which was already struggling with hybrid and remote work, high interest rates and record levels of office vacancies in Canada and the United States. CPPIB’s decision to unload the property could have lasting impacts on CRE, Canadians with pensions and investors.
What would you do if you had a dollar to spare? For Boston Properties, one of America's largest publicly traded real estate developers, that $1 investment was used to buy a stake in a Manhattan office building — specifically, the Canada Pension Plan Investment Board’s (CPPIB) 29% share of 360 Park Ave. S in New York City. CPPIB selling its holding in one of North America’s most expensive cities — likely at a loss — has sent ripples through the commercial real estate (CRE) industry, which was already struggling with hybrid and remote work, high interest rates and record levels of office vacancies in Canada and the United States. CPPIB’s decision to unload the property could have lasting impacts on CRE, Canadians with pensions and investors.
Ontario man loses 'stolen property' classic car
Wayne and Mona Evoy had long dreamed of owning a classic car. The couple from Napanee, Ontario, scrimped and saved for years until finally, in June 2021, they were able to buy a black 1934 Ford Coupe for $30,000, which they paid for in cash. “Wayne’s wanted one of those his whole life,” Mona recently told CBC News. What was their dream? “Just to go for nice drives at night and on the weekends. Something to enjoy now that the kids were grown, and we had time for ourselves. Date night at Dairy Queen.” The escape it offered was even more important after their son, Christopher, suffered a severe brain injury in early 2023. He remains in care and is learning to walk again. Still, when Wayne drove the car past the hospital, it brought some joy to Christopher. “His face would light up,” Mona told CBC. “It just made his day.” But the family’s delight turned to heartbreak with a visit from the Ontario Provincial Police (OPP) in July 2024, when they were informed the classic Ford was, in fact, stolen property.
Wayne and Mona Evoy had long dreamed of owning a classic car. The couple from Napanee, Ontario, scrimped and saved for years until finally, in June 2021, they were able to buy a black 1934 Ford Coupe for $30,000, which they paid for in cash. “Wayne’s wanted one of those his whole life,” Mona recently told CBC News. What was their dream? “Just to go for nice drives at night and on the weekends. Something to enjoy now that the kids were grown, and we had time for ourselves. Date night at Dairy Queen.” The escape it offered was even more important after their son, Christopher, suffered a severe brain injury in early 2023. He remains in care and is learning to walk again. Still, when Wayne drove the car past the hospital, it brought some joy to Christopher. “His face would light up,” Mona told CBC. “It just made his day.” But the family’s delight turned to heartbreak with a visit from the Ontario Provincial Police (OPP) in July 2024, when they were informed the classic Ford was, in fact, stolen property.
Brampton landlord renting bathroom as bedroom
A rental listing in Brampton, Ontario, has caught the eyes of thousands of Canadians — for all the wrong reasons. Posted on Facebook Marketplace, the listing, shared by the Daily Hive, shows a bedroom for rent in a Brampton home for $550 a month. On the surface, it looked like a bargain in a city where the average monthly asking price for a 1-bedroom apartment is $2,079. But on closer inspection, prospective renters believed the bedroom to actually be a converted bathroom, complete with fitted sink and other fixtures — and many were quick to question the room’s suitability and the landlord’s motives. The listing made it to Reddit, where users expressed their concerns about the unhealthy state of the Ontario rental market. One Redditor wrote: “This is way out of hand. There need to be public health laws that set parameters on what constitutes a healthy living space,” while another commented: “This has to stop now otherwise we’ll be renting out park benches and a spot on the front lawn.” The negative reactions to the listing beg the question: While the bathroom-turned-bedroom is unconventional, is it actually breaking any rules — or is it just a result of Canada’s crazy housing market and lack of affordable options for renters?
A rental listing in Brampton, Ontario, has caught the eyes of thousands of Canadians — for all the wrong reasons. Posted on Facebook Marketplace, the listing, shared by the Daily Hive, shows a bedroom for rent in a Brampton home for $550 a month. On the surface, it looked like a bargain in a city where the average monthly asking price for a 1-bedroom apartment is $2,079. But on closer inspection, prospective renters believed the bedroom to actually be a converted bathroom, complete with fitted sink and other fixtures — and many were quick to question the room’s suitability and the landlord’s motives. The listing made it to Reddit, where users expressed their concerns about the unhealthy state of the Ontario rental market. One Redditor wrote: “This is way out of hand. There need to be public health laws that set parameters on what constitutes a healthy living space,” while another commented: “This has to stop now otherwise we’ll be renting out park benches and a spot on the front lawn.” The negative reactions to the listing beg the question: While the bathroom-turned-bedroom is unconventional, is it actually breaking any rules — or is it just a result of Canada’s crazy housing market and lack of affordable options for renters?
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.
Why Canadians are leaving Canada
Alina Mcleod moved to Canada from Ukraine with her mother and stepfather when she was just five years old, and grew up in rural Saskatchewan. “I loved living there as a kid because I had so much space to roam around,” she says in a recent video. Life was straightforward: Her family didn’t have to worry about the cost of groceries or long wait times to see their family doctor. Now in her 30s, Mcleod is a content creator who’s travelled to 50 countries, but she’s always considered Canada home — until recently. “I could always come home and feel like I was wrapped in a comfort blanket of stability while chaos was going on elsewhere in the world,” she says. While Mcleod recognized Canada wasn’t perfect, most people she knew had a relatively high quality of life and could afford to buy their own home. Now when she comes back to Canada, she’s saddened to see people struggling to afford basic necessities. She points to the “shacks of homes” with million-dollar price tags, “extremely sad” tent encampments and hard drugs on city streets. As a result, she’s planning to become a “Canadian non-resident” before the end of this year. She’s not the only one seeking greener pastures elsewhere.
Alina Mcleod moved to Canada from Ukraine with her mother and stepfather when she was just five years old, and grew up in rural Saskatchewan. “I loved living there as a kid because I had so much space to roam around,” she says in a recent video. Life was straightforward: Her family didn’t have to worry about the cost of groceries or long wait times to see their family doctor. Now in her 30s, Mcleod is a content creator who’s travelled to 50 countries, but she’s always considered Canada home — until recently. “I could always come home and feel like I was wrapped in a comfort blanket of stability while chaos was going on elsewhere in the world,” she says. While Mcleod recognized Canada wasn’t perfect, most people she knew had a relatively high quality of life and could afford to buy their own home. Now when she comes back to Canada, she’s saddened to see people struggling to afford basic necessities. She points to the “shacks of homes” with million-dollar price tags, “extremely sad” tent encampments and hard drugs on city streets. As a result, she’s planning to become a “Canadian non-resident” before the end of this year. She’s not the only one seeking greener pastures elsewhere.
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.
Money.ca Digest