Inside future housing plans for the revitalized Port Lands
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Globe and Mail
11 minutes ago
- Globe and Mail
What led this former accountant and teacher to retire and move back to Canada
In Tales from the Golden Age, retirees talk about their spending, savings and whether life after work is what they expected. For more articles in this series, click here. Brian Borgford, 73, Calgary I retired in June, 2014 at age 62 after working for 42 years in accounting, business and teaching. After spending many years as a corporate controller and holding various management positions across Canada, I worked as a business consultant for five years before relocating overseas for the final 12 years to teach business at the post-secondary level. My wife and I have lived in China, the United Arab Emirates and Qatar. We both saved and invested throughout our careers. Once we felt our portfolios had reached an acceptable level, we decided to return to Canada to retire and spend time with our families (my wife and I are both in our second marriage). My children were getting married and starting their own families. Because we were living overseas, the first few weeks of retirement were spent on moving and adjusting to Canadian culture, including basic tasks such as obtaining a driver's licence, updating our addresses and banking information. The rest of the time was spent reconnecting with our kids and grandkids, as well as extended family and friends. We travelled a lot in the early years of our retirement; however, my wife has experienced some health issues that have somewhat slowed those activities. I took up writing as a hobby in the latter part of my career, and that has continued to form a major part of my retirement. I have written and self-published dozens of books, mostly biographies, memoirs and fiction. One of my books details my investment strategies and results. I also write an investment blog, which has a couple of hundred readers. I was an active runner, cyclist and triathlete from my mid-30s through to retirement. I haven't done much racing since retiring, but I do stay active and fit. During my career, I participated in company pension plans, maximized my RRSPs and invested in non-registered accounts. Initially, I invested through an advisor who put me into mutual funds. The returns were pretty good. However, shortly after retiring, I decided to fire my investment advisor because of poor performance and manage my investments myself. In retrospect, I should have divested of him earlier, which would have given me a larger portfolio. Still, I'm happy with my current financial situation. My investment strategy focuses on dividend-growth stocks. These days, I'm living primarily off my dividends. Occasionally, I have minor concerns about financial security in retirement, but I'm confident my investment strategy will continue to provide me with both capital preservation and growth, allowing my wife and me to continue living a comfortable retirement. My advice to others approaching retirement is to ensure you are ready and have a plan for your post-work life. I almost retired a year earlier, but I wasn't entirely sure it was the right move. So, I put in one more year, which proved to be the right decision. Once I retired, I never had to look back. I knew I was done with working. Also, it's easy to become overcommitted in retirement. Having a plan and sticking to it allows you to make informed decisions about what to accept or reject. Remember, retirement is supposed to be fun! As told to Brenda Bouw This interview has been edited and condensed. Are you a Canadian retiree interested in discussing what life is like now that you've stopped working? The Globe is looking for people to participate in its Tales from the Golden Age feature, which examines the personal and financial realities of retirement. If you're interested in being interviewed for this feature and agree to use your full name and have a photo taken, please e-mail us at: goldenageglobe@ Please include a few details about how you saved and invested for retirement and what your life is like now.
CBC
11 minutes ago
- CBC
New report says N.L.'s community housing stock is far below national average
As the cost of living continues to increase while incomes stay the same, housing advocates in Newfoundland and Labrador are calling for more affordable housing units. A report published this month by the Community Foundation of Newfoundland and Labrador (CFNL) and Annex Consulting says only 0.3 per cent of the province's total occupied housing stock represents non-profit units. "Nationwide, community housing accounts for approximately four per cent of the overall housing stock, meaning this province is far below average," said the report, titled Breaking the Bottleneck. According to executive director Nicole Dawe, CFNL stewards funding for communities in need and commissions reports like this one to shed light on where that money should go. Now, the charity is pointing people's pocketbooks to community housing. The report says housing provided by non-profit organizations and co-operatives could be the solution to what it calls a provincewide crisis. "It's gotten considerably worse over the last couple of years," said Dawe. She added that "infinitely accelerating" housing costs and the pressures of the free market are not factors in community housing, making it a worthwhile investment. The only added cost is maintenance. Annex Consulting president and housing advocate Hope Jamieson says community housing needs more help from funding bodies because the non-profit organizations are already stretched thin. "When you think about how the cost of operating anything has increased, you can see how those dollars are certainly not going as far as they used to," they said in an interview. "People are struggling to just maintain the services that they already provide, the housing that they already have. And then when you add the enormous administrative burden of pursuing a housing project, it's a very, very challenging hill to climb," said Jamieson. It's very difficult to access public funding for new projects because of the various different streams and the endless applications, according to Jamieson. They added that there's also no funding available to acquire land or existing buildings. "That on its own is a real challenge, especially for organizations that are new, starting out with no equity. So it comes down to, you know, land, time, capacity, finances," said Jamieson. "I really don't think people know how hard it is." The recommendations laid out in the report aim to jump over those hurdles. Some of the points include offering financial support to early-stage projects, and to bring funders together to streamline applications and funding requirements. Dawe says progress starts at the beginning, at that fabled bottleneck. "We need to figure out how we meet [organizations] where they are with the support and also the funding to make it happen," said Dawe.
Globe and Mail
40 minutes ago
- Globe and Mail
Detached housing values at Greater Vancouver's and Toronto's most affordable price points edge upward as buyers cautiously return to inventory-rich markets, says REMAX Canada
Buyers tired of waiting for the "right time" to buy TORONTO , July 24, 2025 /CNW/ -- Signs of the much-anticipated spring market finally materialized in June as greater inventory and softer overall values reinvigorated buyer intentions and bolstered demand for detached housing in the Greater Toronto Area (GTA), Greater Vancouver and the Fraser Valley, according to a report released today by REMAX Canada. REMAX Canada's 2025 Hot Pocket Communities Report examined 83 markets across the Greater Toronto Area , Greater Vancouver and the Fraser Valley, between January 1 and June 30, 2025 , and found that almost 23 per cent of markets (19/83) reported detached housing sales on par or ahead of year-ago levels in the first half of the year, while just over 19 per cent reported an upswing in values (16/83). In terms of sales during the six-month time-frame, the Greater Toronto Area's 416 area code led in rebounding momentum, with just over 34.2 per cent of Toronto 416 neighbourhoods experiencing stable or growing activity in the detached home segment — ahead of the GTA's more suburban 905 area code. Likewise, Greater Vancouver experienced a sales uptick of just over 29 per cent — outperforming Fraser Valley markets. Limited inventory levels in key areas of Greater Vancouver and Toronto proper — especially at affordable price points — are supporting price appreciation in the detached home category. Greater Vancouver took the lead with 29.4 per cent (5/17) of communities noting an upswing in median price, and 22.8 per cent of 416 markets seeing the same. "After a prolonged period of uncertainty, we're starting to see slow but building momentum in Canada's largest real estate markets," says Don Kottick, President, REMAX Canada. "Buyers who have been sitting on the sidelines for months, prepared and ready to pounce, are finally starting to make their moves. Life moves forward and eventually, necessity dictates action. As a result, there has been a greater number of sales with 'subject-to-sale' clauses — especially in the Greater Vancouver and Fraser Valley markets — that provide a safety net for buyers. Sellers are more accommodating as well, often willing to work with buyers to achieve a sale. Timing is crucial, as buyers are well informed, and markets appear to have bottomed out." To illustrate, detached home sales in the GTA fell to 13,991 in the first half of the year, according to Toronto Regional Real Estate Board data — the lowest level on record in more than a decade and nearly 34 per cent below the 10-year average. Still, the detached category remains the frontrunner in terms of percentage of overall sales year-to-date, representing the lion's share of activity at 45.2 per cent of total residential sales in the first six months of the year. In Greater Vancouver , local board data shows detached home sales at 3,273 for the first six months of 2025 — the lowest level in 10 years and 39 per cent below the 10-year average. Market share for the detached housing segment in Greater Vancouver has slowly declined since 2021, falling to its lowest level in the first half of this year at 27.3 per cent. At its highest point in 2016, detached homes represented 40.1 per cent of total residential sales in Greater Vancouver . Growing urgency for affordable homes in Toronto was identified by REMAX Canada as a major driver in recent weeks, with many buyers in the $850,000 to $1.2 million price range worried that the window of opportunity is already starting to close. "In fact, certain microcosms cropping up within Toronto markets — including hot pocket communities such as Leaside, East York , Riverdale , Trinity-Bellwoods, Davisville and Little Italy — are consistently experiencing healthy demand for detached homes," says Tim Syrianos , Broker, REMAX Ultimate Realty Inc. and REMAX Condos Plus. "And while many of those properties will sell in multiple offers, make no mistake — today's buyers are laser focused on value and will walk away from properties if sellers are unreasonable." Hot Pockets for Detached Home Sales Key 416 neighbourhoods led the way in terms of percentage increases in sales, including central core communities Yonge-St. Clair , Casa Loma, Wychwood, Annex (C02) up 31.3 per cent (63 sales in 2025 compared to 48 sales in 2024); and Mount Pleasant East, Mount Pleasant West (C10) up 6.7 per cent (48/45). Two central areas remained on par year-over-year — Banbury-Don Mills, Victoria Village , Parkwoods-Donalda (C13) (89 sales in 2025 and 89 in 2024) and Waterfront Communities, Moss Park, Cabbagetown-South, St. James Town, Church-Yonge Corridor, and Regent Park (C08) (3/3). Five markets in the eastern district saw sales rise or hold steady, including the Beaches, Woodbine Corridor, East-End Danforth (E02) up 27 per cent (113/89); Highland Creek, West Hill, Centennial, Scarborough Rouge (E10) climbed 15.6 per cent (178/154); Oakridge, Birchcliffe-Cliffside (E06) up 1.9 per cent (109/107); Eglinton East, Scarborough Village , Cliffcrest, and Guildwood (E08) up 1.9 per cent (110/108); and Milliken, Agincourt North, Agincourt South, Malvern West (E07) on par (89/89). Three markets in the west end reported sales on par or ahead of year-ago levels, including South Parkdale , Roncesvalles, and High Park-Swansea (W01) up 56.6 per cent (72/46); High Park North, Junction Area, Runnymede-Bloor West Village, Lambton-Baby Point , Dovercourt-Wallace and Emerson-Junction (W02) up 25.9 per cent (136/108); and Kingsview Village, the Westway, Humber Heights, Willowridge-Martingrove and Riverview (W09) up 2.1 per cent (99/97). Sales in the 905 were more tempered, with Brock and Pickering being the only communities reporting an increase over year-to-date 2024 levels. Sales were up 1.4 per cent in Brock (71/70) and 0.6 per cent in Pickering (321/319). In Greater Vancouver , detached sales in the first six months of 2025 rose in Port Moody / Belcarra , up 31 per cent (76/58); the Gulf Islands rose 22.2 per cent (22/18); Bowen Island climbed 11.5 per cent (22/18); Squamish increased 4.5 per cent (93/89); and the Sunshine Coast registered a 5.8 per cent uptick (236/223). Meanwhile, no gains were reported in the Fraser Valley. "Buyers are cautiously re-entering detached housing markets, taking advantage of more balanced market conditions, especially at affordable price points," explains Tim Hill , of Tim Hill and Associates, REMAX All Points Realty. "Most are young professionals who have spent years saving for a downpayment and are well-positioned to now move forward with their purchase plans." Hot Pockets for Detached Home Price Growth While there has been an upswing in values in key areas, most markets remain slightly off year-ago price levels for the same period. "The uptick in demand for properties at the $1.8 million to $2.2 million price point, particularly in the city's established neighbourhoods, has placed modest upward pressure on values," says Syrianos. "Modest bungalows and two-storey homes on smaller lot sizes in Riverdale , the Beaches, High Park-Swansea, and Corso Italia-Davenport are most sought-after due to the proximity to the downtown core and overall walkability factor." In the 416, eastern markets reporting average prices on par or ahead of 2024 include South Riverdale , Greenwood-Coxwell, Blake-Jones, and North Riverdale (E01) up 1.7 per cent ( $1,721,370 in 2025 compared to $1,693,128 in 2024); The Beaches, Woodbine Corridor, East-End Danforth (E02) up 0.3 per cent ( $2,023,403 / $2,016,381 ); and Eglinton East, Scarborough Village , Cliffcrest, Guildwood (E08) up 2.1 per cent ( $1,284,047 / $1,257,739 ). Central markets showed upward momentum in the Waterfront Communities, Moss Park, Cabbagetown-South, St. James Town, Church-Yonge Corridor, Regent Park (C08) up 21.5 per cent ( $2,166,667 / $1,783,289 ); Rosedale-Moore Park (C09) rising 5.6 per cent ( $4,265,874 / $4,039,383 ); and Bridle Path-Sunnybrook-York Mills, St. Andrew-Windfields (C12) up 11.5 per cent ( $4,608,619 / $4,134,825 ). Two west-end markets experienced upward pressure on average price, including South Parkdale , Roncesvalles, High Park-Swansea (W01) up a modest 1.2 per cent ( $2,091,470 / $2,065,721 ); and Rockcliffe-Smythe, Keelesdale-Eglinton West, Caledonia -Fairbank, Corso Italia-Davenport , Weston-Pelham Park (W03) climbing 6.2 per cent ( $1,102,706 / $1,038,548 ). In the 905, Durham Region's Scugog reported a two-per-cent increase in values ( $1,112,146 in 2025 compared to $1,090,069 in 2024), while average price in Peel Region's Caledon area jumped 5.6 per cent ( $1,540,693 / $1,458,934 ) year-over-year. "Affordability continues to play a huge role in Greater Vancouver and the Fraser Valley, with the greatest activity occurring between $1 million and $1.5 million ," says Hill. "For buyers looking to establish a foothold in real estate, communities such as Squamish and Bowen Island offer the best of both worlds–close proximity to the city against a recreational backdrop, while Mission's picturesque landscape is a draw for those looking to get into the market at the million-dollar mark." Median price appreciation was evident in the first six months of 2025 in five markets, including Bowen Island , up 9.1 per cent ( $1,500,000 in 2025 compared to $1,375,000 in 2024); Delta-South, up one per cent ( $1,509,523 / $1,494,000 ); Squamish , up 7.6 per cent ( $1,690,000 / $1,570,000 ) ; West Vancouver /Howe Sound at 2.6 per cent ( $2,998,000 / $2,922,200 ); and Whistler/Pemberton at 12.1 per cent ( $2,663,500 / $2,350,000 ). Mission was the sole market to report a nominal increase in average price in the Fraser Valley, rising 0.7 per cent to $1,052,454 in the first six months of 2025, compared to $1,044,946 in 2024. "Buyers now have the advantage of time and are working closely with lenders to ensure a seamless home-buying process," says Kottick. "Some are still awaiting further announcements from the Bank of Canada regarding interest rate cuts. Should those materialize, we could see the full impact of pent-up demand. The U.S. trade situation continues to weigh on economic performance, and we can expect an air of caution to linger until a trade deal is struck. In the meantime, moves toward economic transformation and diversification bode well for Canada's future. As such, the back half of 2025 should see recovery underway and a resumption in price growth in a number of major and micro markets." Other trends in the market include: Greater sales at affordable price points. In the Greater Toronto Area , homes priced from $850,000 to $1.2 million in key microcosms are moving quickly, while sales in the $1 million to $1.5 million price point in Vancouver and the Fraser Valley are most active. Year-round living in more recreational areas. Purchases in more recreational markets such as Bowen Island , the Gulf Islands , Squamish and the Sunshine Coast continued in the first six months of 2025. Rental suites still in demand. Buyers continue to offset mortgage costs by renting out suites within their homes. Luxury market less impacted. Buyers at this price point continue to make their moves, regardless of market conditions, as evidenced by rising values in the Bridle Path, Rosedale, and West Vancouver . In the first six months of the year, 11 properties changed hands over the $10 million price point in the GTA, up considerably over the four property sales reported during the same period in 2024. "Price, quality, time—consumers are often told to pick two, because it's very rare to realize all three," says Kottick. "In real estate, it's the perfect trifecta. This may be one of the very rare windows of opportunity where active buyers could now reap the benefits of all three. It's an anomalous event from a historical real estate perspective to have ideal conditions in each these pivotal variables. It's not only rare; it's fleeting. As rebounding home sales gain momentum, the alignment will inevitably shift." Regional Overview Greater Vancouver and the Fraser Valley While economic uncertainties have curtailed homebuying activity throughout the first six months of the year, an uptick in sales in recent weeks suggests the Greater Vancouver , and to a lesser extent, Fraser Valley markets are beginning to show signs of recovery. Buyers are cautiously re-entering the detached housing market, making offers despite not having sold their current homes—and including "subject to sale" clauses to mitigate risk. Surprisingly, sellers are adapting to the new strategy, often allowing 30-days with a trigger clause that stipulates that if another offer is presented during that time, the buyer has 24 to 72 hours to commit or lose the property. As a result, nearly four in every ten properties are sold or under contract (with offers subject-to-sale). The lion's share of detached activity is occurring in the $1-million to $1.5-million price range, but lower rates and greater stability in the weeks and months ahead will serve to further rouse the market. Balanced market conditions currently exist, with some areas approaching buyer's market territory. After years of tight market conditions, the ability to view a plethora of homes and take more time to make decisions will ultimately provide a healthier backdrop for homebuying activity in the immediate future. Greater Vancouver communities such as the Sunshine Coast , Squamish , Port Moody / Belcarra , the Gulf Islands and Bowen Island remain popular with buyers, with all reporting an uptick in detached housing sales in the first six months of 2025. Five markets in Greater Vancouver , including Bowen Island , Gulf Islands , Port Moody / Belcarra , Squamish , and the Sunshine Coast have experienced an increase in median prices, while average values have climbed in Fraser Valley's Mission area. Detached properties are the strongest segment of the market—with most selling if they are well-priced. Rental suites are increasingly important to younger buyers entering the market as they look to offset hefty mortgage costs. Most buyers are professionals with ample savings for a solid downpayment on the properties they purchase. The current real estate market presents a unique opportunity for buyers. Moving into the traditional fall market, lower interest rates and increased economic stability will help propel greater homebuying activity, with the resilience of both buyers and sellers shaping the market. The window of favourable conditions will make this one of the best years in recent memory to invest in a home. Greater Toronto Area While overall housing sales in the Greater Toronto Area (GTA) have declined compared to year-ago levels, demand for detached housing continues to bolster the market, with the segment representing nearly half of total sales. First-time buyers have been driving detached sales in recent weeks, spurred by the increase in May's average price, with many realizing that as detached property values rise, the window of opportunity is closing. Certain microcosms within the Toronto market — including Leaside, East York , Riverdale , Trinity-Bellwoods, High Park, Davisville, and Little Italy — are experiencing healthy activity in the $850,000 to $1.2 million price range, with some properties selling in multiple offers. Average days on market in the central core, for instance, was considerably less than the overall average at this price range, with most homes moving within 19 days during the first six months of the year. The market for homes priced between $1.8 million and $2.2 million is also solid across the city, particularly in established traditional neighbourhoods. In essence, the delayed spring market has finally arrived. Interest appears to be piquing with more listing views, more showings, and more offers. However, the buyer mindset has two settings — deal or no deal. They're prepared to walk if the seller is unreasonable. Sellers, on the other hand are prepared to hold firm or, in more dire circumstances, end up setting new benchmarks for prices in their neighbourhood. Pent-up demand remains contained, as a result, at least until one or two more interest rate cuts can really stimulate activity. The swing market, encompassing properties priced between $2.8 million and $3.3 million , has been the most affected during this challenging period. Listing inventory is high at the entry-level to the luxury price point and sales are few and far between. Conversely, the luxury market, priced around $3.8 million to $4 million , has been less impacted, as purchases in this range are often driven more by desire than necessity. Greater Toronto Area's housing market is navigating a complex landscape marked by varying levels of demand across different price segments. The delayed spring market — finally materializing in June — has injected new energy, with increased interest and activity, although buyers remain cautious and sellers steadfast. As external factors such as interest rate cuts and easing trade tensions come into play, GTA market's dynamics may shift, potentially unlocking pent-up demand and fostering a more balanced environment. Durham Region Rapid population growth has contributed to strong homebuying activity over the past decade in Durham Region, but buyers have pulled back in 2025 given hesitation in the market attributed to overall economic uncertainty and concerns over Canada-U.S. trade negotiations. Affordability has been a major draw for buyers to the area in recent years, with single-detached properties often priced well under homes in the 416-area code. This year, however, the number of properties that have changed hands is down by 20 per cent and more throughout the region, while average prices are holding relatively stable. At least two markets have reported values on par or ahead of 2024 levels in the first six months of 2025 including Brock , a small rural market, equalling year-ago values for detached homes, while Scugog, with its luxury rural properties, posted an increase of over seven per cent in the first six months of the year. Buyers have started to trickle back into the market given healthier market conditions that are more reminiscent of yesteryear. An ample supply of detached housing is available throughout the region, and buyers are taking their time viewing homes listed for sale — without the urgency present in the pandemic/post-pandemic period. With current market conditions expected to persist throughout the coming months, the outlook for detached home sales in the Durham Region is best characterized as "slow and steady." Detached home sales are expected to come close or slightly surpass levels reported in 2024, while average price in Durham Region is anticipated to move marginally ahead of year-ago figures. About the RE/MAX Network As one of the leading global real estate franchisors, RE/MAX, LLC is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with more than 140,000 agents in over 9,000 offices with a presence in more than 110 countries and territories. REMAX Canada refers to REMAX Canada, Inc., which is an affiliate of RE/MAX, LLC. Nobody in the world sells more real estate than RE/MAX, as measured by residential transaction sides. RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. RE/MAX agents have lived, worked and served in their local communities for decades, raising millions of dollars every year for Children's Miracle Network Hospitals ® and other charities. To learn more about RE/MAX, to search home listings or find an agent in your community, please visit For the latest news from RE/MAX Canada, please visit Forward looking statements This report includes "forward-looking statements" within the meaning of the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "believe," "intend," "expect," "estimate," "plan," "outlook," "project," and other similar words and expressions that predict or indicate future events or trends that are not statements of historical matters. These forward-looking statements include statements regarding housing market conditions and the Company's results of operations, performance and growth. Forward-looking statements should not be read as guarantees of future performance or results. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These risks and uncertainties include (1) the global COVID-19 pandemic, which has impacted the Company and continues to pose significant and widespread risks to the Company's business, the Company's ability to successfully close the anticipated reacquisition and to integrate the reacquired regions into its business, (3) changes in the real estate market or interest rates and availability of financing, (4) changes in business and economic activity in general, (5) the Company's ability to attract and retain quality franchisees, (6) the Company's franchisees' ability to recruit and retain real estate agents and mortgage loan originators, (7) changes in laws and regulations, (8) the Company's ability to enhance, market, and protect the RE/MAX and Motto Mortgage brands, (9) the Company's ability to implement its technology initiatives, and (10) fluctuations in foreign currency exchange rates, and those risks and uncertainties described in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission ("SEC") and similar disclosures in subsequent periodic and current reports filed with the SEC, which are available on the investor relations page of the Company's website at and on the SEC website at Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made. Except as required by law, the Company does not intend, and undertakes no duty, to update this information to reflect future events or circumstances.
