Montreal doctors' breakthrough discovery about causes of cerebral palsy giving hope
A breakthrough discovery made by doctors at the Montreal Children's Hospital about the causes of cerebral palsy is giving new hope to one West Island family.
Skyrocketing housing prices in 2021 are driving up how long it would take for homebuyers to save for a down payment, new data shows.
The National Bank of Canada (NBC)’s latest report found that during the second quarter of 2021, housing affordability has worsened by the widest margin in 27 years. The report examined housing and mortgage trends in 10 cities across the country.
To save up enough for a down payment for an average home in Canada, it would take just short of six years – or 69 months – if you saved at a rate of 10 per cent of their median pre-tax household income.
This marked a notable jump compared to the 57 months of saving at that same rate this time last year.
And, if you live in Vancouver, Victoria and Toronto, it could take decades – assuming you put away 10 per cent of your before-tax household income.
Here’s a breakdown of how much time it would take to save up for a down payment for an average home or condo, if you saved a tenth of your pre-tax income:
People are framed around the CN tower as they exercise in Toronto on Wednesday, June 2, 2021. THE CANADIAN PRESS/Nathan Denette
People take in the sun on a warm day while looking over the city of Montreal, on Wednesday, March 17, 2021. THE CANADIAN PRESS/Paul Chiasson
Downtown Winnipeg. (Source: CTV News/Mason DePatie)
Researchers also found mortgage payments now make up 45 per cent of the income for a representative household, slightly above the average amount (43 per cent of income) needed in 1980.
NBC noted that during most of the past two years, income growth and lower interest rates have been conducive to improving affordability.
But 2021 has been a stark contrast, the bank said, with home price increases outpacing income growth and mortgage interest rates also rising.
A breakthrough discovery made by doctors at the Montreal Children's Hospital about the causes of cerebral palsy is giving new hope to one West Island family.
Warnings of up to 60 millimetres of rain and other alerts have been issued for seven Canadian provinces and one territory ahead of the Easter weekend.
An Ontario man who built a garage on his property has been locked in a battle with his electricity provider for a year and half over a severed power line.
Jameek Lowery was among more than 330 Black people who died after police stopped them with tactics that aren’t supposed to be deadly, like physical restraint and use of stun guns, The Associated Press found.
It was a typical Tuesday for Mabel Beharrell, 84, until she got the call that would turn her world upside down. Her teenaged grandson was in trouble and needed her help.
The Canada Revenue Agency announced Thursday it will not require 'bare trust' reporting from Canadians that it introduced for the 2024 tax season, just four days before the April 2 deadline.
The estate of minimalist contemporary artist Donald Judd filed a lawsuit against Kardashian this week, claiming the fashion and beauty mogul promoted 'cheap knockoffs' of his furniture designs.
The spring allergy season has started early in many parts of Canada, with high levels of pollen in some cities already. Experts weigh in on which areas have it worse so far this season.
Louis Gossett Jr., the first Black man to win a supporting actor Oscar and an Emmy winner for his role in the seminal TV miniseries 'Roots,' has died. He was 87.
B.C. conservation officers recently seized a nine-foot-long Burmese python from a home in Chilliwack.
A New Brunswicker will go to bed Thursday night much richer than he was Wednesday after collecting on a winning lottery ticket he let sit on his bedroom dresser for nearly a year.
The Ontario government is introducing changes to auto-insurance, but some experts say the move is ill-advised.
A Toronto restaurant introduced a surprising new rule that reduced the cost of a meal and raised the salaries of staff.
Newfoundland’s unique version of the Pine Marten has grown out of its threatened designation.
A Toronto man is out $12,000 after falling victim to a deepfake cryptocurrency scam that appeared to involve Prime Minister Justin Trudeau.
It started small with a little pop tab collection to simply raise some money for charity and help someone — but it didn’t take long for word to get out that 10-year-old Jace Weber from Mildmay, Ont. was quickly building up a large supply of aluminum pop tabs.
There’s a group of people in Saskatoon that proudly call themselves dumpster divers, and they’re turning the city’s trash into treasure.
Ontario is facing a larger than anticipated deficit but the Doug Ford government still plans to balance its books before the next provincial election.