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As more Floridians face evictions from mobile home parks, Kerrie Bacci is demonstrating how to stand your ground — even if that ground is owned by a huge property management company.

Bacci owns her mobile home in Shangri La Mobile Home Park in Largo, Florida. What she doesn’t own is the land it sits on. She leases her lot from Chicago-based Equity LifeStyle Properties, which owns 200 such parks in the U.S.

When the property management company served Bacci with an eviction notice, she took the matter to court and won. Her attorney Michael Hildebrandt, who helped her win, says too many people in similar situations don’t fight.

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“Most people in these parks don’t have the means or capabilities of defending these evictions properly, so they wind up giving up their homes,” he says. “They wind up moving out. They wind up selling their homes to get away from the problem.”

Bacci shared her story — and the power of speaking up — with WFTS Tampa Bay.

Property manager’s backlash against resident

Bacci believes she was targeted after she complained to the property management company about the dumpsters near her property. She said the area wasn’t being maintained.

“I had to go out three to five times a week and wash it down," Bacci said.

She erected a sign in the dumpster area without management’s approval. The property management company cited her for that. Then it cited her for other violations, including installing an intercom speaker and having planters and reflectors extending over the property line onto the sidewalk.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

The property manager also issued a violation citing her for “disturbing the peaceful enjoyment of the community.”

“They want everyone under their thumb, in check, doing what they say,” Bacci commented.

Bacci had an altercation with the local property manager who arrived at her home and started measuring her lot without her consent.

The Florida Residential Landlord-Tenant Act states that a landlord needs to give “reasonable notice” (typically 24 hours) before entering a rental property.

Bacci captured the confrontation on camera as a police officer arrived. Bacci told both the property manager and officer to leave — and they did.

“No one should have to go through that," she said of the confrontation. “I was in my own home.”

The next thing she knew, Equity LifeStyle Properties served her with an eviction notice.

Judge rules against eviction

Lawyer Michael Hildebrandt represented Bacci at an eviction hearing and the judge ruled in her favor.

When asked about the eviction complaint and ruling, Equity LifeStyle Properties issued a statement that read: “the judge in the hearing ruled in Ms. Bacci’s favor because management stopped issuing additional rule violations once a 30-day notice to vacate was posted.”

It also said the company hoped Bacci would continue to follow community rules and regulations so that “further legal proceedings can be avoided.”

As WFTS reported, the Florida Department of Business and Professional Regulation has investigated Bacci’s complaint about Equity LifeStyle Properties and forwarded it to the Office of the General Counsel for review.

Hildebrandt said other people who live in Equity LifeStyle Properties mobile parks have reached out to him.

“I’ve been contacted by people as far as the east coast of Florida that are dealing with the company that owns these parks,” he said.

Tenants need to know their rights around evictions, whether they lease land in a mobile home park or an apartment.

Protect yourself from unlawful evictions

Look up your state’s landlord-tenant laws. As Jacksonville Legal Aid reveals, Florida has specific laws that apply to the eviction of residents in mobile home parks.

In Florida for instance, a landlord can send an eviction notice if a tenant didn’t make any attempts to correct an issue within seven days after being asked to do so.

You can protect yourself by making sure you keep the home or lot you lease in good condition and that you do not unreasonably disturb other tenants.

A tenant may have a right to withhold rent if the landlord has engaged in unlawful behavior.

If you receive an unfair eviction notice, you may need to provide documentation indicating how they’ve violated their end of the rental agreement.

Since rules around evictions and tenant rights can be complex, it’s wise to do as Bacci did, and seek the advice of a reputable attorney.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

You’ve spent days researching and you think you’ve finally found the perfect car for you. You’re ready to drive it off the lot and into freedom. There’s just one slight snag: You can’t drive your dream car anywhere because you don’t have auto insurance.

Auto insurance is one of those pesky financial necessities in life. Although most of us don’t enjoy shopping or paying for it, it is a legal requirement if you want to be able to drive that car.

This article is a primer on everything you should know before you choose auto insurance in Canada. We’ll take a look at the different types of coverage available, factors that influence premium costs and the important details you should consider before you buy.

How does car insurance work?

Car insurance works a lot like home insurance, where the premiums you’ll pay to an insurance company are based on the carrier’s estimated annual cost of covering your vehicle.

Premiums are calculated based on several factors. One of them is how much the insurance company believes it will have to pay out in claims in the coming year. You’ll pay your car insurance company premiums on a monthly or annual basis in exchange for taking on your vehicle’s risk.

The insurance company then collects all the premiums from the drivers it protects and places it into one large pool to cover the losses from customers filing for claims throughout the year.

You’re covered for the losses in your car insurance contract only, which means it’s important to review you policy in detail before signing up to make sure you understand the extent of your coverage.

However, car insurance contracts aren’t always the easiest to understand. If you need clarification about your coverage, it’s a good idea to speak with your insurance representative to get a better understanding.

Who needs auto insurance?

Simply put, if you’re a motorist in Canada, you’re required to have auto insurance, and skimping out on it can lead to a major fine. Ontarians caught without auto insurance, for example, are looking at a fine between $5,000 and $50,000 for a single offense, and they could also have their driver’s license suspended and car impounded.

But that’s not all. Anyone found to be driving without valid auto insurance could be considered a high-risk driver, and as a result might face higher auto insurance premiums or be refused auto insurance in the future. If an uninsured driver is involved in a collision and found at fault for an accident causing injury or death, they could be found personally responsible for the injured party’s medical costs and any other losses.

What are the different types of car insurance available?

The minimum level of auto insurance required in Canada varies throughout the country, so it’s important to familiarize yourself with your province or territory’s requirements to ensure compliance.

Third-party liability coverage

The most basic car insurance is third-party liability coverage. This protects you, the driver, against paying for damage you cause to someone’s property. It also protects you if someone else is killed or injured as a result of an at-fault collision committed by you. The minimum coverage varies by province, but at the very least it should cover the medical costs of anyone injured in an accident: Third-party liability coverage is mandatory in Canada.

Collision coverage

In addition to protecting you from third-party liability, collision coverage also covers you if you hit something other than a vehicle, such as an embankment or guardrail. It’s fairly common for this policy to also protect you if you’re involved in an accident with a motorist who isn’t insured. This broader level of coverage typically costs more than liability.

Comprehensive coverage

As its name suggests, comprehensive coverage provides the broadest range of protection. Not only does it usually cover medical and collision-related damages, but it may also protect you in the event of theft and floods. However, this comes at a cost, as comprehensive premiums are usually the highest among the three.

Specified perils and all perils

Two other optional types of auto insurance you might consider signing up for are specified perils and all perils. As its name implies, specified perils coverage protects you against specific damage to your vehicle, like theft or attempted theft, and weather-related damage, such as fire, lightning, windstorms and earthquakes. Meanwhile, all perils coverage combines the protection you receive under collision and comprehensive coverage.

It’s important to weigh the amount of coverage you need with the premium you’ll pay in order to find the auto insurance coverage that’s right for you. A lot of us like to shop for the option with the lowest premium, but as the old saying goes, you get what you pay for. When shopping around, it’s important to also look at the amount of coverage you’ll receive to ensure it’s sufficient. The last thing you want is to end up paying a lot of money out of pocket if you ever need to file a claim.

Is auto insurance different from province to province?

Although auto insurance is mandatory for drivers in all provinces across the country, there are key differences depending on where you reside, including the rates that are available to you.

For years, Ontario has consistently had the highest auto insurance rates in the country. Although it’s hard to pinpoint the exact reason why, reports have cited insurance fraud and auto theft as the main reasons. Meanwhile, Quebec has consistently had among the lowest auto insurance rates in the country over the years.

In most provinces, your only choice is to get auto insurance from private companies. That being said, there are some provinces that offer private and public auto insurance coverage, such as B.C., Manitoba and Saskatchewan, plus the option of extra coverage from private companies.

However, Quebec falls into its own category, as public insurance protects you in the event of injuries or death, while private companies protect you for property damage.

What factors influence the cost of auto insurance?

If you’re anything like me, you may have a tendency to complain that your auto insurance premiums are too high. But your premium might make more sense if you understand how it’s calculated. Insurance companies set its prices based on a number of factors, including:

Vehicle make, model and production year

Your vehicle’s make, model and production year has major bearing in premium costs. For example, sports cars are typically more expensive to insure compared to sedans. This boils down to two factors: Sports cars not only tend to have a higher retail price, but they’re also more likely to be involved in a collision.

Driving history

Your driving history is another big factor. If you’ve never received as much as a speeding ticket, you could save thousands of dollars in auto insurance premiums compared to someone who has several speeding tickets and has been involved in collisions.

Demerit points

Incurring demerit points for driving infractions, such as dooring a cyclist or speeding, can impact the auto insurance premiums you’ll pay, as well. Demerit points won’t affect your premium immediately, but they will when the policy comes up for renewal, as long as your insurance company checks your driving record.

Place of residence

A lot of motorists aren’t aware that where you live can have a big impact on their auto insurance premiums. Some neighbourhoods have a history of filing more claims than others. If your area has a lot of break-ins and collisions, be prepared to pay for it.

Age and gender

Two more factors that influence car insurance premiums are the driver’s age and gender. Insurance is one of the few industries where companies can legally discriminate based on age and gender in pricing. All things considered, you’ll generally pay less for auto insurance the older you are—at least until you hit your golden years, when you’ll be forced to fork over more for premiums. Men generally pay higher auto insurance premiums than women, as they are known for exhibiting riskier driving behaviour.

How can drivers minimize what they pay in auto insurance?

Who isn’t looking to pay less for your auto insurance? Here are some simple ways to cut down on what you pay and free up room in your monthly budget for savings or investing.

Bundle and save

Are you a homeowner? By bundling your home insurance with your auto insurance (using the same insurance company) you can expect to receive a discount. Typical discounts range between 5% and 25% on the overall cost of both insurance products.

Raise your deductible

Your deductible is the amount that you’re required to pay out of pocket before your insurance company will chip in in the event of a claim. By choosing a higher deductible, you could save a substantial amount on your monthly premiums. Typical deductions range from $500 to $5,000 — the higher the deductible the cheaper your insurance premiums. Just be sure that the deductible you select is manageable, should you need to make a claim. Inquire with your insurance company and check out the deductible options that are offered.

Shop around and save

Many of us have our car insurance on auto pilot; we’re too busy to allocate time toward shopping around and simply renew with our existing insurance company. While that may be convenient, it’s not necessarily cost effective. By shopping around, you’ll have the peace of mind that you’re getting a good rate and adequate coverage.

How to get insurance for a car in Canada

You can buy auto insurance from a licensed insurance broker, which is someone who offers insurance from a number of different insurance providers. The broker will research the market for you to find the carrier with the coverage you’re looking for at the best rate.

Another choice is to use an insurance agent. They typically represent a single insurance company, so it might still be a good idea to do your own additional research into possible alternatives to what the agent suggests. Similar to insurance agents are direct writers, who work for carriers that sell directly to consumers.

A third choice is to shop online on your own behalf. The upside to this option is that you feel like you’re in the driver’s seat. The downside is that insurance can be complicated, so you’ll probably want to speak to a human being at some point.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Despite interest rates trending downward and home prices slipping in some cities, the dream of homeownership in Canada remains elusive for many.

For would-be buyers watching the Bank of Canada ease its key interest rate in recent months, bringing it to 3.25% in early 2025, there was hope that a long-awaited window of opportunity might finally be opening. But for most, the math still doesn’t add up.

Lower rates, but not a buyer’s market

In a typical real estate cycle, lower mortgage rates fuel demand. Buyers rush in, credit becomes easier to access, and homes change hands more quickly. But that hasn’t happened this time, at least not to the extent many Canadians expected.

According to Robert Hogue, assistant chief economist at RBC, while recent interest rate cuts have provided some relief, affordability remains a significant challenge. He notes in an October 2024 report that the modest improvement in affordability is expected to grow into more significant relief for homebuyers in the coming months, as the Bank of Canada is expected to continue cutting rates.

National Bank’s Housing Affordability Monitor tells a similar story. As of early 2025, the median household would need to nearly double its income just to qualify for a mortgage on a benchmark home in most major markets, including Toronto, Vancouver and even smaller cities, such as Victoria and Ottawa.

Related: The top 22 cheapest places to live in Canada

A market stuck in limbo

While prices have declined slightly in some regions, down 1.4% year-over-year nationally, according to CREA, the modest dip hasn’t been enough to reset the market.

“Even if prices fall further, it won’t be enough to restore affordability without a sharp drop in interest rates or a surge in incomes,” Tony Stillo, director of economics for Oxford Economics told Reuters last September.

And while the Bank of Canada is expected to continue cutting rates through 2025, economists don’t see that translating into a buyer’s market any time soon. According to a Reuters poll of property experts, national home prices are forecast to rise by 2.8% in 2025 and 3.0% in 2026, outpacing the expected inflation rate of 2.5%.

Why prices aren’t falling faster

One of the biggest reasons home prices aren’t coming down faster is a stubbornly short supply.

According to the Canada Mortgage and Housing Corporation (CMHC), the country needs 5.8 million new homes by 2030 to restore affordability, but current construction rates are falling far short of that target.

Meanwhile, population growth continues to put pressure on housing demand. Canada welcomed over 744,000 new permanent and temporary residents in 2024, with the vast majority of that growth, 98.5%, driven by international migration.

In response, policymakers have introduced measures aimed at helping first-time buyers, such as extending amortization periods for insured mortgages to 30 years and increasing RRSP withdrawal limits under the Home Buyers’ Plan. However, critics argue these demand-side interventions won’t be effective without major efforts to boost housing supply.

“The solutions are out there. We don’t have to do anything novel — we just need to look at what the other provinces are doing better than us and adopt some of those reforms,” said Mike Moffatt, senior director at the Smart Prosperity Institute, in a November 2024 interview with Compass News.

A long road to recovery

Canadians hoping for a return to pre-pandemic affordability levels will likely be waiting a long time. RBC predicts that housing affordability, measured by the percentage of income needed to cover mortgage payments, won’t return to long-term averages until at least 2030. Oxford Economics is even more pessimistic, forecasting that full affordability may not be restored until 2035.

That’s especially true in urban centres. Toronto and Vancouver are likely to remain permanently unaffordable for the average household unless there are seismic changes in housing policy, wage growth or both.

What Canadians should watch for

For now, buyers are being urged to remain cautious,especially those hoping for dramatic price drops. While some regional markets may see modest shifts, the national trend points in a different direction. Without a significant boost in housing supply or bold new policy interventions, meaningful improvements in affordability remain out of reach.

Experts suggest Canadians may need to adjust to a “new normal” where elevated home prices and tighter lending conditions are here to stay. Rate cuts alone won’t unlock the market. Without more housing, stronger wage growth and comprehensive policy reforms, Canada’s affordability crisis is likely to persist, and for many prospective buyers, the wait could be longer than expected.

Sources

1. RBC: Buying a home gets a tad more affordable as rates drop (October 8, 2024)

2. Reuters: Canada’s housing affordability crisis may persist for years despite rate cuts (September 30, 2024)

3. Reuters: Canada home prices to rise modestly on subdued demand despite rate cuts: Reuters poll (September 3, 2024)

4. Compass News: Province and feds must play nice to solve housing crisis: economist (November 10, 2024)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Your credit card works hard – but is it working smart? For most Canadians, that first piece of plastic sitting in your wallet is leaving money on the table. The savviest cardholders know that strategically adding a second credit card isn’t about doubling your credit; it’s about eliminating the blind spots in your debt repayment or rewards strategy.

Adding the right second card doesn’t complicate your finances, it completes them. But finding the right card can be challenging. Here’s how to find the best second credit card for your needs (and how to tell if you should consider one).

When should you consider getting a second credit card?

When it comes to adding a new credit card to your wallet, there’s no one-size-fits-all approach. The ideal time to pick a new credit card should be when financial opportunities (think big purchases, debt consolidation) or lifestyle changes (new hobbies, career change, move) make a new card useful.

There are plenty of reasons why you might want a second credit card:

• Planning a major purchase
• Shifts in your spending habits
• Reducing high-interest debt
• Changing travelling habits

When shouldn’t you consider a second credit card?

Getting a second credit card can be a huge benefit, in the right situations. You should avoid opening new credit card accounts if:

• You’re planning on applying for a new mortgage
• You’ve missed payments on your current credit card
• You’ve applied for too many credit cards in the past two to three months

Strategic planning: Picking a second credit card

Ready to level-up your credit card game? Let’s dive straight into examples of how savvy Canadians strategically choose second cards that perfectly complement their existing plastic.

Sarah, the diner in search of more rewards

Sarah, a Torontonian looking to boost her dining rewards, discovered her TD Cash Back Visa Infinite had a critical blind spot. While earning an impressive 3% on groceries, gas and recurring bills, her frequent restaurant spending only earned a paltry 1% back. Talk about leaving money on the table!

After identifying this rewards gap, Sarah made a brilliant move: Adding the American Express Cobalt specifically for restaurant purchases. Here’s her thought process broken down:

• Category gap analysis: Sarah calculated she was missing out on $228 annually by using her TD card for dining ($300 potential with Cobalt vs. $72 with TD)
• Network diversification: Adding an Amex to her Visa-equipped wallet gave her flexibility when merchants prefer one network
• Reward type expansion: Beyond cash back, she gained access to points with a potentially higher travel redemption value
• Fee justification: The Cobalt’s $155.88 annual fee was more than offset by that extra $228 in dining rewards on offer

Michael, the family man looking to save

Then there’s Michael, the Calgary homeowner planning a $6,000 kitchen renovation. Michael has always relied on his Tangerine Money-Back Card for all his expenses. But with a European vacation and the cost of family flights looming next summer, Michael spotted a golden opportunity to turn his necessary appliance purchases into a travel windfall.

By timing his new TD® Aeroplan Visa Infinite application with his renovation, Michael:

• Easily hit the minimum spend requirement for a massive welcome bonus
• Scored up to 40,000 Aeroplan points worth approximately $1,100 to $1,400 for flights
• Secured points specifically valuable for his European travel plans
• Achieved a staggering 690% return on his $139 annual fee investment

Jamie, the debt reducer

Meet Jamie, a 29-year-old Edmonton resident carrying $8,500 in credit card debt on his CIBC Dividend Visa with a 19.99% interest rate. Despite making $350 monthly payments, $140 went straight to interest charges, leaving just $210 for actual debt reduction.

At that rate, paying off his balance would take over four years and cost nearly $4,000 in interest alone

After researching his options, Jamie applied for the MBNA True Line Mastercard offering a 0% promotional interest rate on balance transfers for 12 months (with a 3% transfer fee). Even better, his excellent credit score earned him approval for a $10,000 limit, giving him greater flexibility in paying down debt and lower interest charges in the future.

The key takeaway to all these examples?

Your credit cards should work as a team. The most effective second card directly addresses weaknesses in your primary card’s rewards structure or capitalizes on specific upcoming opportunities, like debt refinancing or big purchases.

Read more: Best balance transfer credit cards in Canada

Examples of powerful card combinations

Strategic credit card pairings are like financial power couples in that they bring out the best in each other, covering each other’s weaknesses while amplifying strengths. But what does a good credit card combination look like? Here’s a few examples of our best second card combinations:

Cards for dining

• Primary card: American Express Cobalt (5x on groceries and dining)
• Secondary card: Tangerine World Mastercard (2% in other chosen categories)
• Why it works: This combination delivers exceptional returns on all food spending while filling gaps in other important categories

Cards for travellers

• Primary card: Scotiabank Passport Visa Infinite (no FX fees, travel insurance)
• Secondary card: American Express Gold Rewards (flexible point transfers to airline partners)
• Why it works: You’ll have comprehensive coverage for all travel scenarios with maximum flexibility in how you redeem your points

Cards for families

• Primary card: Scotia Momentum Visa Infinite (4% on groceries and recurring bills)
• Secondary card: PC Financial World Elite (for Loblaws stores/Shoppers Drug Mart)
• Why it works: This maximizes returns on family-focused spending at grocery stores while allowing you to capitalize on PC Optimum points at Shoppers Drug Mart

What’s the best second credit card for you?

In our experience, the secret to credit card mastery isn’t chasing the single "best" card. Instead, it’s creating a dynamic duo that covers all your bases. Think of it like a financial tag team where each card steps in exactly when it’s most valuable.

Choosing your best second credit card takes time and requires careful planning, but the results can be amazing. It’s not about carrying more plastic — it’s about making every swipe count.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Canadians are slipping deeper into financial trouble, and the numbers tell a sobering story. Turns out more Canadians are missing loan repayments at a much faster rate than taking on new debt — a clear sign that many are running out of financial runway as many struggle to pay bills.

According to a nationwide study by Money.ca, delinquency rates — the red flag of missed debt payments — have jumped 19.14% year-over-year, now sitting at 1.43%. That’s more than five times the rate of debt growth, which only crept up 3.79% to an average of $21,810 in non-mortgage debt.

What does this mean? It means more people are borrowing just to stay afloat — and even that isn’t enough anymore.

Google search reveals real-time anxiety

When people worry, they Google, and Canadians are searching their way through this financial crisis.

Searches for "budget planner" shot up 152.86% over the past year, showing many are trying to regain control before things spiral. But at the same time, interest in “payday loans” rose 27.6%, hinting that others are reaching for expensive lifelines just to cover everyday costs.

Read More: Find the best budget planner to help manage your money.

And it’s not just about planning ahead. People are bracing for the worst:

• Searches for “personal bankruptcy” rose 4%
• “Garnishment” (a legal process to seize wages) climbed 6%
• “Consumer proposal” searches were up 3%, as Canadians look to negotiate their way out of debt
• “Debt consolidation” saw an 8% bump, reflecting a desire for simpler repayment plans

This surge in search activity paints a stark picture of a nation in financial distress, with Canadians taking both proactive and desperate measures to manage their debt. The growing interest in bankruptcy, garnishment and debt restructuring options reveals a widespread struggle to keep up and underscores the urgent need for accessible financial solutions.

Debt stress hits harder in some provinces

Canada’s financial picture is anything but uniform. In some places, residents are managing, and in others, the strain is overwhelming.

• Quebec leads the country in delinquency rate growth: +24.16%, even though average debt only rose a modest 2.68%
• Ontario isn’t far behind, with delinquencies up 23.78%, driven largely by expensive urban living in cities like Toronto
• Newfoundland, surprisingly, shows the opposite trend: despite a 7.78% jump in debt — the highest in Canada — its delinquency rate actually fell 0.46%, suggesting local resilience
• Smaller provinces like PEI saw a 5.47% increase in debt and a manageable 5.94% rise in delinquencies — still concerning, but far from crisis territory

Big city, big pressure: Urban centres under siege

If you live in a major Canadian city, you’re likely feeling the pinch more than most.

• Montreal saw a staggering 27.06% spike in delinquencies — the highest of any city — despite having one of the lowest average debt levels at $16,894
• Toronto’s delinquency rate climbed 24.16%, closely tied to its unaffordable housing market and high living expenses
• In Vancouver, where average debt is a hefty $23,002, delinquencies rose 19%
• By contrast, places like St. John’s (+0.73%) and Halifax (+11.6%) are showing much more stability, a reminder that smaller cities may offer a softer landing in turbulent financial times

Different generations, different financial struggles

No age group is immune, but the reason why each age cohort is struggling does vary.

• Young adults (18 to 25) are getting hit hard early, with delinquencies up 17.02% on relatively small debts (average: $8,267), primarily due to the difficult combination of low income and limited employment experience
• Pre-retirees (56 to 65) are in a crunch with debt climbing 6.28%, and delinquencies following suit, rising 16.88%. Retirement planning is tough when you’re still paying off large debts
• Even retirees (65+), who carry the least debt overall ($14,575), saw delinquencies rise 8.12%, a result of rising living and healthcare costs outpacing fixed incomes

What Canadians can do right now

Here are a few action steps that could help turn the tide, or at least slow it down:

1. Start with a budget (and stick to it): Searches for “budget planner” are booming for a reason. Free online tools or budget apps can help you get a handle on where your money’s going and identify areas to cut back.

2. Look into consolidation or consumer proposals: If your debt is scattered or unmanageable, consolidating it into one lower-interest payment using a consolidation loan or negotiating a consumer proposal might bring relief.

3. Avoid payday loans: They’re tempting for quick cash, but the long-term costs can be brutal. Try talking to your bank or local credit union about lower-cost alternatives.

4. Build your financial literacy: If you’re under 30, learning the basics now can save you years of stress later. Free resources, workshops and even YouTube can be powerful tools. Even those over 30 can benefit from learning basic or more complex money management skills.

5. Push for policy support: High-cost cities and vulnerable provinces need localized solutions, from affordable housing strategies to expanded access to debt support programs.

The pressure is real but so are the options

This isn’t just a blip on the radar. The findings of the Money.ca study reveal a nationwide warning sign that Canadians, across all regions and age groups, are struggling to stay financially afloat. But there are tools, resources and policy solutions that can help.

Whether you’re drowning in bills or just feeling the squeeze, now’s the time to act, before a missed payment turns into a bigger crisis.

Read the full report at Money.ca/research/canada-debt-crisis

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

“I don’t think I’ll ever own a home.”

That’s the reality for half of Canadians — and two-thirds of millennials — who now see homeownership as a dream slipping out of reach. With recession fears rising and interest rates stuck in uncertainty, more and more working Canadians are stepping back from the housing market entirely.

According to BMO’s latest Real Financial Progress Index, 50% of Canadians believe owning a home is even less attainable than it was in 2024. For many, the optimism around saving for a down payment or finding a stable interest rate has eroded.

"Canada’s housing market remained under pressure heading into the spring, with sales and prices both weakening further," said BMO Capital Markets’ Senior Economist, Robert Kavcic, in a recent statement. "There is some clear underlying weakness as inventory builds and investors remain absent. Suffice it to say, homebuyers are losing confidence and motivation, especially in areas of BC and Southern Ontario."

Read More: Where to find the best mortgage rates in Canada

Rates are ruling the market

Interest rates continue to be a massive barrier. More than two-thirds of would-be Canadian homeowners say current rates are a deal-breaker, and 2 in 5 are waiting for rates to fall below 3% before making a move.

Even worse, 44% of Canadians admit they don’t even know what rate they’d be comfortable with to buy or refinance — suggesting that uncertainty, not just affordability, is holding people back.

As a result, more than half of prospective homeowners feel they missed their moment to buy a home, although more than half of aspiring homeowners still hoping to get into the real estate market are now considering a move to a different provice or country in order to increase their chances of buying an affordable home.

“We missed our chance”

For many millennials, the window to buy a home feels like it closed when they weren’t looking. Two-thirds of them feel they’ve already missed their opportunity.

Still, 59% of Canadians say owning a home is one of their biggest life goals. But compared to five years ago, confidence in achieving that goal has dropped sharply — especially among younger generations.

Rethinking the plan

With the economy in flux, Canadians are reimagining what homeownership even looks like. Nearly half are open to buying a home with friends or extended family. Gen Z and Millennials are leading the charge toward shared ownership models.

A significant portion of current homeowners (43%) say they needed financial help from family to make their purchase. More than a quarter of today’s buyers expect the same.

On the flipside, older Canadians many are beginning to accept their role in helping their adult children or grandchildren into the housing market. According to the BMO survey, more than a third (39%) plan to financially help their adult children or adult grandchildren to buy a home — and among these about 5% plan to help by contributing to the required down payment and 4% plan to contribute to their family’s First Home Savings Account (FHSA).

While some still push toward ownership, others are stepping away. Almost two-thirds of Canadians say they’re comfortable renting and don’t feel pressure to buy — especially among Gen X and boomers. Over half see renting as a more flexible option in today’s economy.

Read More: How to buy a house in Canada

Survey methodology

The BMO Real Financial Progress Index survey was conducted by Ipsos in Canada between March 3 to 26, 2025. The survey polled a sample of 2,500 adults aged 18 or older. To account for recent changes in the economic situation, certain questions were asked again of a sample of 2,001 adults aged 18 and older between April 17 to 20, 2025.

— with files from Romana King

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Tracy and Dale McMullen are Canadians who had a vacation home in Buckeye, Arizona, for five years until they sold it in April. The couple typically spent four to five months a year in the U.S., but now say they don’t plan on returning anytime soon.

“We decided to sell the property after the current POTUS took office,” Dale told Reuters, referencing President Donald Trump, in a story published on April 22. “We felt we could not trust what he might do next to us as individuals and to our country. We no longer felt welcome nor safe.”

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Tracy and Dale are among a number of Canadian snowbirds re-thinking their annual vacation plans to escape the wintery cold up north in favor of sunny U.S. destinations.

So, why exactly are Canadians deciding to pack up and stay home, and what impact could this have on local U.S. economies?

How much do Canadians spend on real estate in the U.S.?

According to National Association of Realtors (NAR) data, Canadians spent a total of around $5.9 billion in U.S. residential real estate between April 2023 and March 2024, making up 13% of foreign purchases.

These buyers bought homes at an average of a $834,000 price tag, making it the second highest average amount. This was credited to Canadian buyers purchasing homes in resort areas, where property tends to be more expensive.

Florida (41%) and Arizona (23%) topped the list of states where Canadians purchase homes, making up almost two-thirds of home sales. Nearly half (49%) of Canadians bought these properties as vacation homes, while one-fifth (22%) intended to use them for both vacations and renting.

But this year could tell a different story, say those in the industry. Andrea Hartmann, managing partner of the Sandy Hartmann Group, says peak buying season for condos in the Tampa Bay area is in the first quarter of the year.

“We have not received an offer [this year] from a Canadian buyer even once, and normally we would,” she told Reuters.

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Why are Canadian homeowners selling their U.S. homes?

Trump threatened to impose widespread tariffs on goods from Canada as early as February. Although the president has delayed many of these levies, a number were still put in place. Meanwhile, Canada has implemented retaliatory tariffs of its own on select U.S. products.

In addition, repeated comments by the president suggesting Canada become America’s 51st state — going so far as to mockingly refer to former Prime Minister Justin Trudeau as “governor” — were perceived by many Canadians as a threat to the country’s sovereignty.

But there may be reasons beyond political friction Canadians may want to put up “For Sale” signs on their vacation home lawns in the U.S.

Four major hurricanes have ripped through Florida in the last several years, and these natural disasters have had an impact on home insurance premiums. Several companies have pulled out of the state, while others have increased prices. As of May 1, the average cost of insurance for a $300,000 home in the state was $5,409 per year — more than twice the national average of $2,329 per year — according to data from Bankrate.

“Now with the political issue, the cost of maintaining a place here in Florida and the insurance, a lot of them decided to sell and go,” Ken O’Brian, owner of Southwest Coast Realty in Naples, which specializes in helping Canadians purchase real estate, told Reuters.

In Arizona, realtor Laurie Lavine told Reuters he’s seen more listings from Canadians wanting to sell homes this year. Usually, there are around two to four listings per quarter, but at the time of publication he said there were 18 active listings. He added that Canadians are feeling “picked on” by U.S. border agents enforcing stricter rules.

“There is no incentive to come to the States anymore,” Donny B. of Ontario, who is trying to sell two investment properties in Florida, told Reuters. He declined to give his surname, the publication says, because he feared backlash. “I’m like, ‘are people going to be pissed off at me?’”

How this could impact local economies

The shift in real estate purchase decisions from Canadians could indirectly affect how homes will be bought and sold.

If there are more listings, it could mean that buyers in these areas have more inventory to choose from and less competition from others putting offers on the same homes. For realtors, the lower number of buyers could be offset by more opportunities to help sellers list their homes.

However, less Canadians — even tourists and not homeowners — could spell less incomes for local businesses. Time will tell how snowbirds flocking away from the country will have an impact on the U.S.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

With the advent of United Nations-driven global net-zero mandates, demand for rare earth minerals is on the rise, and so are investment opportunities in sustainable mining for Canadian investors.

Renewable energy is an essential component of phasing out the global reliance on fossil fuels in order to reduce emissions for everyday power consumption needs. However, many of these pieces of green prop tech — from the coating on solar panels to the components for the battery in an EV — require mining.

This presents a challenge for the industry as a whole, but also provides the chance to get in on the ground floor of the green energy wave.

In this article, we’ll dive into the future of sustainable mining and prospects for Canadian investors.

What are the existing issues in mining?

To be clear, there’s always an upfront environmental cost of a mining project.

Mining typically begins with removing trees, shrubs, grasslands and meadows to make room for mining infrastructure. Depending on location, this may also involve the displacement of existing indigenous groups or entire communities.

Historically, clear communication with these communities has been a persistent problem. This has resulted in a push for more transparency for mining practices given that communities are left holding the bag after the operation shuts down.

During the active mining phase, other issues take shape.

Mines need to purify gangue, or a mix of soil and undesirable minerals, to produce ore. This is done through chemical treatment, which produces toxic run off that’s stored in tailing ponds where mining waste is stored under water.

Although alternatives exist, tailing ponds remain an industry mainstay.

All that, plus mining also needs heavy machinery, which are typically powered by fossil fuels. In particular diesel powered trucks contribute heavily to a mine’s carbon footprint, according to the Rocky Mountain Institute.

As a result, mines have a heavy impact on local environments by damaging the earth, water and air.

This begs the question, how can mining ever be sustainable given the industry’s environmental impacts?

How sustainable mining works

Sustainable mining aims to mitigate the baked-in environmental cost of ore extraction through a trinity of changes to mining practices:

1. Improve consultation with impacted communities to preserve and support their quality of life throughout the mining process
2. Reduce fossil fuel emissions and carbon generation during the active mining phase
3. Remediate the mining site following the closure of the mine

It’s also important to note that sustainable mining operations are assessed based on their lifecycle, not the shovel-breaking environmental impact.

Sustainable mining in Canada

Sustainable mining practice can be broadly split into three categories: the negotiation phase, the active mining phase and the remediation phase.

Negotiation

The first step to sustainable mining is a robust consultation process with any communities impacted by development.

This includes not only speaking with local stakeholders, but also determining the economic benefits a mine can bring to a community. Typically this takes the form of new jobs or apprenticeship programs. Infrastructure improvements are also common through implementing higher quality roads or improving internet access, according to the Ontario Mining Association.

In Canada, mining projects often involve negotiating with treaty holding indigenous groups such as the Temagami First Nation and Teme Augama Anishnabai. It can also involve community consultation, as seen in the myriad of mining projects in Timmins, Ontario. This duty to consult is split between Federal and Provincial or Territorial governments.

For more on this, you can check out the Government of Canada’s interactive map on indigenous mining agreements.

Electrifying active mining

During the active mining phase, the big thing mining companies can do is electrify their fleets of heavy machinery, or utilize energy from a renewable grid or micro grid.

One such example is ABB’s Ability eMine line of electrified trolleys and transportation vehicles. Some of these vehicles are built to transport materials hundreds of kilometers through the Australian outback, according to their white paper.

Making changes at this level is paramount, but may also dramatically intensify grid demand. For example, electrifying the global iron ore industry could require between 20 and 30 terawatts hours of electricity, according to McKinsey and Company.

The ultimate goal here is to drop direct carbon emissions. Secondary benefits include reduced heat and reduced noise of vibrations, according to Agnico Eagle which operates mines in Ontario.

Long-term site remediation

Finally, sustainable mines need to take post mining remediation measures seriously.

Producing waste is, for now at least, an inescapable part of mining operations. With that being said, reclamation efforts have proven successful in the past.

One of the best Canadian examples of this is the Falconbridge mining reclamation project in Sudbury. In 2023, Sudbury celebrated the 50th anniversary of its re-greening program, which involved the planting of millions of trees.

Coupled with efforts to reduce emissions and mining waste, large areas of previously contaminated land have been reclaimed.

Canada also developed the Towards Sustainable (TSM) set of performance standards by the Mining Association of Canada (MAC) in 2004, which is updated regularly. Adherence is mandatory for all MAC members and covers many of the issues discussed above — from tailing pond management to carbon footprint reduction.

Given Canada’s immense biodiversity, balancing economic growth with environmental protections and social responsibility is essential to the future of the country.

Ways to invest in sustainable mining

If you’re interested in sustainable mining practices you can approach investment opportunities from several different directions. Here are some ideas to get you started.

1. Mining companies that are attempting to to reduce or fully offset their carbon footprint
2. Manufacturing companies that are building the EV vehicles needed for electrified mines
3. Renewable energy grid alternatives — especially those that slot into a micro grid for mining operations
4. Mining companies that are digging for the rare earth metals that power batteries for fossil fuel alternatives
5. Firms that are developing more efficient renewable energy solutions

In short, investing in the mining sector doesn’t necessarily mean investing in mining operations themselves.

There’s an entire constellation of options for investment depending on your understanding of the technologies involved in reaching 2030 and 2050 fossil fuel reduction targets.

Examples of sustainable mining operations you can invest in

Several mining companies listed on the Toronto Stock Exchange (TSX) have demonstrated commitments to sustainable practices. A few notable examples, include:

1. Newmont Corporation (TSX:NGT): Recognized as the world’s leading gold miner, Newmont has been acknowledged for its sustainability efforts. Notably, it was the only mining company included in TIME’s list of the world’s top 100 most sustainable companies for 2024, ranking 84th.

2. Alamos Gold Inc. (TSX:AGI): This Canadian multinational gold producer operates mines in North America and has been recognized for its environmental, social, and corporate governance (ESG) performance. In 2022, Alamos announced a company-wide target of a 30% reduction in greenhouse gas emissions by 2030 and released its first Climate Change report in 2023.

3. Agnico Eagle Mines Limited (TSX:AEM): Agnico Eagle is a Canadian-based gold producer with operations in Canada, Finland, Australia, and Mexico. The company has a long-standing commitment to environmental stewardship and has been recognized for its sustainability initiatives.

4. Avalon Advanced Materials Inc. (TSX:AVL): Specializing in rare metals and minerals, Avalon focuses on sustainable development and has produced comprehensive corporate sustainability reports. The company’s projects include the Nechalacho Rare Earth Elements Project and the Separation Rapids Lithium Project, both emphasizing environmental responsibility.

5. Kinross Gold Corporation (TSX:K): Kinross has been recognized for its corporate responsibility initiatives. In 2015, it achieved an A− ranking in Maclean’s magazine’s annual assessment of socially responsible companies, the highest ranking of any Canadian mining company at that time.

These companies exemplify efforts within the mining industry to integrate sustainable practices into their operations, aligning with global environmental and social governance standards. To get started, you’ll need to open a trading account.

Conclusion

All in all, mining as an industry is only going to scale in a different direction, not disappear entirely.

As Canada attempts to reach its net zero targets many of the technologies needed to reach those emission targets require mining. Finding a balance between environmental stewardship and the reality of climate change is a significant concern, especially given that the industry employs over half a million Canadians and contributed $148 billion of gross domestic product in 2022.

— with files from Romana King

Sources

1. Rocky Mountain Institute: Pulling the weight of heavy truck decarbonization

2. Ontario Mining Association: Social Responsibility

3. Temagami First Nation & Teme Augama Anishnabai: Consultation Protocol for Mining Activities in N’Daki Menan

4. Ontario: Glencore Canada Corporation

5. ICLG: Mining Laws and Regulations Canada 2025

6. Government of Canada: Lands and Minerals Sector – Indigenous Mining Agreements

7. ABB: White Paper: Building the all-electric mine

8. McKinsey and Company: Electrifying mines could double their electricity demand

9. Agnico Eagle: Electrification of Mining

10. American Geoscience Institute: Mining remediation in the Sudbury region of Ontario

11. Greater Sudbury: Regreening Program

11. National Resources Canada: 10 Key Facts on Canada’s Minerals Sector

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

When Hurricane Helene tore through Ruskin, Florida, in 2024, Robert Paul and his wife lost nearly everything. Their home was destroyed, and like many Americans, they turned to their insurance provider for relief — and were relieved when their $30,000 claim was quickly approved.

But that relief quickly turned to frustration. The settlement check from the National Flood Insurance Program bounced — twice.

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The first time, officials blamed a bank switch. The second time, the bank refused to resubmit the check altogether. “It again came back as no good,” Paul told WFLA, “so now the bank has told us they will not resubmit [the check].”

It’s the kind of scenario no one wants to deal with in the wake of a disaster. So what happened next? And did the Pauls ever get the money they needed to make repairs? Here’s what happened, and what you can do if you find yourself in a similar situation.

Did the family get their money?

Yes — but only after a new check was issued.

At the end of April, representatives told Paul to expect a new check in the mail, which he could then cash.

Until the check cleared, Paul and his wife had to wait to begin repairs on their home.

In Florida, it’s common for homes in certain areas to flood after hurricanes, which makes flood insurance essential.

What is the National Flood Insurance Program?

The National Flood Insurance Program, or NFIP, is managed by the Federal Emergency Management Agency (FEMA). It partners with about 50 insurers to offer policies to homeowners and renters who want protection from floods.

Since most standard homeowners insurance policies don’t cover flood damage, many homeowners, renters and even businesses purchase coverage through the NFIP, provided they live in a qualifying area.

Policies typically cover up to $100,000 for your belongings and $250,000 for damage to your property. If your property is in a high-risk flood area, you’re required to purchase flood insurance.

While no one wants to deal with flood damage, you’ll need to work with your insurance company to file a claim. It’s important to document the damage and file a claim as soon as possible.

Once an insurance adjuster assesses the claim, you can start repairs — or wait for the check to arrive. But as Paul and his wife discovered, that process doesn’t always go smoothly.

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What to do if you run into a similar issue

First, try to stay calm. After a major storm, it’s natural to want to start repairs right away.

In the meantime, review your insurance plan to see if you’re eligible for additional claims or if more documentation might help your case. Insurance adjusters will let you know if more visits are required, which could delay your claim.

If your check bounces, contact your insurance company immediately and follow their instructions.

Use your damage estimate to start getting quotes from contractors.

If you can afford it — and if your insurer approves — you might choose to pay out of pocket while you wait for the check. If not, you may have to wait, assuming you can still live in your home. This experience may also be a chance to plan better for the future.

While you can’t avoid floods or property damage, you can better protect yourself financially. Consider setting aside savings in a separate emergency or disaster fund. That way, when the unexpected happens, you’ll have some cash to help you handle the situation.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

An Edmonton property developer, Christenson Group of Companies, is facing mounting financial troubles, leaving more than 200 former residents in financial limbo.

The company owes approximately $75 million to individuals who had invested in life-lease contracts at nine retirement homes, according to a CBC News story.

“Hope has certainly been waning,” Jim Carey, president of the Alberta Life Lease Protection Society, told CBC. “We warned government that this was going to escalate and be a really serious problem for hundreds of seniors.”

How did it get this bad?

Under the life lease model, residents paid large lump sums upfront for the right to occupy a unit, expecting to be refunded when they moved out, or passed away, minus a refurbishment fee.

However, a repayment queue begins if more than six per cent of residents terminate their lease at once. As of late 2024, nearly 50 former Bedford Village residents alone were in the queue, with over $17 million owed. Across all Christenson properties, that total is expected to surpass $100 million by this year, according the CBC.

Rapidly growing queues have left seniors waiting two to three years for their money, and new provincial regulations are complicating the company’s ability to pay.

Christenson Group president Greg Christenson warned that recent rules mandating a 9% annual interest on unpaid entrance fees could make refinancing and repayments impossible.

“The resulting strain on cash flow will also lead to insolvency for each property with life lease loans and stop refinancing plans,” Christenson wrote in a letter to residents obtained by CBC.

He told CBC that the interest rate environment, the Alberta real estate market and the demand for seniors’ housing continues to improve.

“So the question isn’t the ability to repay — the question is how long will it take. And we know that people are very stressed, particularly the estates, or the adult children of the seniors who lived in our buildings.”

The biggest roadblock to recovery

The Alberta government now requires housing operators to pay accrued interest if entrance fees aren’t returned within six months. Although these rules are not retroactive, they apply to newer terminations, adding another layer of financial pressure, according to Alberta government regulations.

Government officials have stated they expect Christenson Group to meet its obligations.

"We expect life lease operators to structure their operations in a way that allows them to meet all their contractual and regulatory obligations, including repaying entrance fees to all life leaseholders and paying interest to life leaseholders where there have been unexpected delays in returning entrance fees,” Brandon Aboultaif, a spokesperson for the Alberta government, told CBC.

How developers and residents can avoid this trap

To avoid such distressing scenarios, both property developers and prospective residents should consider the following measures:

1. Enhanced financial oversight: Developers must implement rigorous financial management practices to ensure long-term viability. Regular audits and transparent financial reporting can help detect and address issues before they escalate.

In Canada, the Office of the Superintendent of Financial Institutions (OSFI) emphasizes the importance of robust risk management practices for real estate secured lending, highlighting the need for sound financial oversight to maintain stability in the housing market.

2. Legal protections for residents: Contracts should include clear terms that protect residents’ investments. This may involve setting up escrow accounts or trust funds specifically designated for resident repayments, ensuring that these funds are not commingled with the developer’s operational finances.

In Ontario, the Retirement Homes Act, 2010 mandates that retirement homes have written tenancy agreements detailing the care services, meals and accommodation provided, along with their associated costs, thereby safeguarding residents’ rights and investments.

3. Comprehensive due diligence: Prospective residents should thoroughly investigate a developer’s financial health and track record before entering into agreements.

This includes reviewing financial statements, seeking references from current or past residents and consulting with financial advisors. Understanding the terms of residency agreements, including services provided, fees and policies on care level changes, is crucial for residents to prevent potential abuses or neglect.

4. Regulatory compliance and advocacy: Engaging with industry advocates and adhering to regulatory guidelines can provide additional layers of protection.

In Canada, real estate brokers, sales representatives, and developers are required to implement compliance programs and verify the identity of clients to prevent financial mismanagement and fraud, as outlined by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

Sources

1. CBC: More than 200 Albertans owed hundreds of thousands of dollars for life lease repayment (Feb 12, 2025)

This article An Edmonton property developer owes a whopping $75M to former residents of 9 retirement homes — but 1 big thing could hold the company back from paying. How to avoid a similar nightmareoriginally appeared on Money.ca

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.