Is B.C.’s rent subsidy working for seniors?
B.C.’s new seniors advocate, Dan Levitt has called on the provincial government to redesign a program that provides rent subsidies for low-income seniors, saying recent improvements don’t go far enough. In April, the provincial government announced a one-time $430 payment, plus increases in monthly benefits, income eligibility and rent ceilings that will allow about 4,800 […]
Canadian home sales rise after interest rate cut
National home sales increased in June following the Bank of Canada’s first interest rate cut since 2020, and activity posted another small gain in August on the heels of the second rate cut in late July, but the bigger picture appears to be a market mostly stuck in a holding pattern. “Despite some fledgling signs of life […]
B.C. seniors face rent hikes that are illegal
Many residents of retirement homes in British Columbia are facing illegal rent increases, the province’s seniors’ advocate says. In a report released this summer, Dan Levitt called for increased protections for the 30,000 people in independent living facilities in the province. “Calls to my office from seniors who are facing unlawful rent increases have more than doubled in […]
More Canadian seniors are getting roommates
As Canadians age, many seniors face challenges related to housing, social isolation, and financial constraints. One increasingly popular solution to these challenges is for seniors to get a roommate. Having a roommate offers numerous benefits that can improve the quality of life for seniors, including financial relief, companionship, increased safety, and shared responsibilities. 1. Financial […]
The crucial issues facing seniors in the B.C. election
As the British Columbia (B.C.) election on October 19, 2024, approaches, several key issues are emerging that are particularly relevant to seniors. With an aging population, the concerns of older adults are becoming increasingly central to the political discourse. Seniors in B.C. face a variety of challenges, from healthcare access and housing affordability to financial […]
Canadian seniors not downsizing due to lack of options
As the population of seniors in Canada continues to grow, many experts have anticipated that an increasing number of older adults would choose to downsize their homes, moving into smaller, more manageable residences. However, the reality is that many seniors are not downsizing, and a significant factor behind this trend is the lack of suitable […]
The benefits of getting a reverse mortgage
A reverse mortgage can be a valuable financial tool for seniors looking to enhance their retirement income, stay in their homes longer, and manage their financial needs. Unlike traditional mortgages, a reverse mortgage allows homeowners aged 55 and older in Canada (or 62 and older in the United States) to borrow against the equity in […]
Canadian seniors want cheaper housing options
When you’re living on a pension, it’s tough to keep up with inflation. That’s why so many seniors are demanding more affordable housing options, a key factor in upcoming provincial and federal elections. Some government agencies are working on the problem. For example, the Hastings-Sunrise neighbourhood in east Vancouver will soon have 146 new affordable homes for […]
Do you love your B.C. neighbourhood?
Canadians love their neighbourhoods, according to RE/MAX’s 2024 Liveability Report, with the majority (86 per cent) saying they like the quality of life and liveability they offer, and 50 per cent liking it a lot. Cities in Prairie provinces, such as Alberta and Manitoba, overwhelmingly top the list, with some of the most liveable neighbourhoods in Canada. Not surprisingly, the relative affordability […]
Greater Victoria real estate sales see a drop
A total of 661 properties sold in the Victoria Real Estate Board region this June, 6.2 per cent fewer than the 705 properties sold in June 2023 and a 13.4 per cent decrease from May 2024. Sales of condominiums were down 16.5 per cent from June 2023 with 202 units sold. Sales of single family […]
