CTV National News: More Canadians choosing Canada first when making vacation plans
A new study finds more Canadians are choosing to stay in Canada for vacation amid trade tensions with the U.S. Paul Hollingsworth has more.
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CTV News
an hour ago
- CTV News
Seniors rarely downsize — here's why that's hurting first-time homebuyers
A real estate sign is displayed in front of a house in the Riverdale area of Toronto on Wednesday, Sept. 29, 2021. THE CANADIAN PRESS/Evan Buhler Realtor Barry Lebow specializes in helping seniors downsize — moving out of the family homes they've lived in for decades to a smaller place that's a better fit for their aging lifestyle. From the outside, that might look like the natural progression: feeding a healthy bit of turnover into the housing supply as move-up buyers seek their own family home. But the reality is a bit different when it comes time to sell, Lebow, who works in the Greater Toronto Area, said in an interview. 'Our customers are not always happy customers,' he said. 'Almost all seniors do not want to move.' Experts say it's a myth that seniors who own their homes are keen to downsize to fund their retirements, when the reality is they're largely staying put, in part because they don't like the downsizing options, making it harder for young prospective buyers to break into the housing market. Seniors are in fact the demographic that's least likely to move, according to data from the 2016 census. 'It's actually quite rare,' said Mike Moffatt, founding director of the Missing Middle Initiative at the University of Ottawa. Lebow said that when seniors do move, it's often because they're facing mobility or money issues — or both. He acknowledged there's a type of older Canadian who's keen to cash out on the family home, move into a smaller condo or apartment and take on a new lifestyle. But these are the unicorns, he said. In his work, it's common to come across seniors with three- or four-bedroom houses and no children at home to fill them anymore. More space than they need, in all likelihood, but no motivation to let it go. 'Moving is a traumatic experience,' Lebow said, whether it's the financial cost or the emotional toll of changing addresses and purging years of accumulated belongings. Beyond the typical home showings and paperwork, his job has ranged from rehoming a pet dog who couldn't be accommodated in a new abode to acting as de facto mediator when the prospect of mom or dad downsizing becomes a tense family conflict. Some of his clients are also facing cognitive decline, Lebow said, and only see their real estate agent as the guy trying to throw them out of their home. 'Believe me, I've been yelled at,' Lebow said. A Canada Mortgage and Housing Corp. report from November 2023 also found that while there was a bit of a shift toward downsizing as Canadians age, that trend is still limited to a minority of older households. There's also minimal movement to condos or rental properties as Canadians age, the report found. Data from CMHC indicates the 'sell rate'— the proportion of Canadians older than 75 who are cashing out of the housing market — fell steadily between 1991 and 2021. Canadians are living longer and might also be in better financial shape as they get older, the agency said, letting them age in place. 'In order for them to leave, they would need something that met their needs as much. And often, that doesn't exist,' Moffatt said. Among the biggest factors motivating — or hindering — a move are cost and lifestyle, he said. Many seniors still want to be able to garden and host family over the holidays, he said, which makes a one-or-two bedroom condo in the downtown core unappealing. Moffatt said many older Canadians are keen to stay in their existing neighbourhoods, but smaller options are not readily available. Modern infill units set up for street-level access in older, residential neighbourhoods are the kinds of options many seniors need to give moving a second thought. The kind of sixplex-unit zoning recently up for debate at Toronto city council would create the kinds of units that would be right for many would-be downsizers, Moffatt noted. Toronto ultimately decided last month to broaden sixplex zoning to only some wards, leaving the others to opt in if they choose. Moving houses is also expensive when it comes to hiring movers, staging costs and the myriad of taxes and fees for real estate agents and lawyers. Measures to reduce the tax burden seniors face when moving can help to encourage more turnover of family homes, Moffatt said. The Liberal government tabled legislation in May to waive the federal GST on new homes, but it only applies to first-time homebuyers. Moffatt said it would 'absolutely' help improve supply in the housing market if that policy were extended to downsizing seniors. Such a move could sweeten the deal for seniors who are open to getting into a smaller condo unit but don't see the financial value in the move. That could spur a positive domino effect in the market: Moffatt explained that when move-up buyers are able to leave behind their starter homes to take on seniors' larger properties, that opens up more supply at the bottom of the housing ladder for first-time buyers. The Canadian Press reached out to Finance Minister François-Philippe Champagne to ask if the federal government would consider expanding the GST rebate to seniors. A Finance Canada spokesperson did not mention seniors in their response, only saying in an email that the GST rebate is meant to help first-time buyers enter the housing market by lowering upfront costs to buying a home and spurring the construction of new housing across Canada. 'Incentivizing or reducing the barriers to building housing across the board benefits everyone,' Moffatt said. 'It is kind of an irony, but one of the best things we can do to help first-time homebuyers is to make it easier for seniors to move into new housing.' This report by The Canadian Press was first published July 25, 2025. Craig Lord, The Canadian Press
National Observer
2 hours ago
- National Observer
Ottawa warned early in new year of wheels wobbling on $100 billion EV strategy
The federal government was warned early in 2025 that its $100 billion electric vehicle strategy was in danger of being run off the road by slowing North American EV sales and the economic mayhem sown by US President Donald Trump's tariffs on Canada, a newly released document reveals. François-Philippe Champagne, then federal minister of Innovation, Science and Economic Development Canada, was sent a briefing note on Jan. 10 by his deputy minister, Philip Jennings, that flagged 'a decline in expectations' among EV makers that imperiled the plan's progress. 'The slowdown in growth has contributed to delays, modifications, or scaling back of planned investments' in the auto sector despite tens of billions of dollars in investments having already been announced, Jennings said in the document obtained by Canada's National Observer through an access to information and privacy request. The briefing note was delivered to Champagne only weeks after he told CNO that critics of the government's embattled EV strategy lacked 'vision and ambition.' Champagne was named Minister of National Revenue in a cabinet shuffle after the Liberals won the April federal election that also saw Mélanie Joly take over the Industry, Science and Economic Development portfolio. Developing an EV industrial ecosystem from mining critical minerals used in vehicle batteries to new assembly lines for electric vehicles would give Canada a competitive advantage in a global industry 'for decades to come — but not overnight,' Champagne said in December. Joly's office told Canada's National Observer that it 'recognizes the sector's concerns and is continuing to engage meaningfully with industry stakeholders to address and alleviate challenges' linked to US tariffs, though no specific action plan was outlined in its response. 'Despite short-term policy fluctuations, the long-term trajectory for EV adoption remains strong,' says Dunsky Energy analyst Lindsay Wiginton 'Our government is working to ensure EVs are made in Canada, so Canadian workers benefit from the growth and jobs in this industry," said a spokesperson. Canada's EV plans going flat? A total of $46.1 billion in investments across the Canadian EV supply chain was announced by automakers including Honda, Volkswagen, GM and Ford from October 2021 to April last year. Federal and provincial governments pledged $52.5 billion in incentives, tax breaks and other support, according to Canada's Parliamentary Budget Officer, which provides economic analysis to the government. But dark skies have threatened the EV strategy and long-term future of auto manufacturing in Ontario as the Canada-US trade war drags on. In April, GM shuttered its CAMI assembly plant in Ingersoll, Ont., where it builds an electric delivery van. GM expected to reopen the plant at 'half capacity' in the fall. Ford and Stellantis, which cited tariffs as a major factor in a $3.7 billion loss in the first half of 2025, have also suspended or delayed EV production in Canada. Some 40,000 EVs have been produced to-date in Canada, which in 2024 imposed a 100 per cent tariff on imports of Chinese EVs to protect the domestic industry. China made 12.4 million electric cars last year, accounting for 70 per cent of global EV output, according to the International Energy Agency. Battery makers have hit speed bumps too. A planned $7 billion EV manufacturing plant in Saint-Basile-le-Grand and McMasterville, Que, collapsed after Swedish battery maker Northvolt declared bankruptcy in March. The Quebec government lost a $270 million investment in the project. More recently, trouble emerged at the $5 billion NextStar EV battery factory being built by Stellantis and South Korea's LG Energy in Windsor, Ont. Several Canadian contractors have filed lawsuits alleging millions of dollars in unpaid work at the plant, which has received $15 billion in federal and provincial incentives, according to media reports. Jennings said in his briefing note that slowing EV purchases had 'created doubt in the trajectory of [future] sales'. Trump's executive orders soon after taking office to scrap Biden-era EV targets and tax credits, along with the end of federal EV incentives in Canada, have 'added uncertainty' in the market, the note said. 'In the long-term these impacts on their own are unlikely to jeopardize the prosperity of the automotive sector in Canada, but they depend on the electrification plans of the manufacturer and the health of the sector overall, including the impact of potential U.S. policies and tariffs,' Jennings said. EV transition 'unstoppable' The federal government should stick to its long-term plan for an EV supply chain in Canada because the global shift to EVs is 'unstoppable,' said Matthew Fortier, CEO of Accelerate, a Toronto-based zero-emissions vehicle industrial alliance. There are signs of 'underlying momentum' for Canada's EV industry, said Lindsay Wiginton, managing consultant at research house Dunsky Energy. She noted many analysts have a positive global EV outlook, including projections that a quarter of all cars sold in 2025 will be electric. That growth is 'driven in large part by the continued decline in lithium-ion battery costs that is helping to bring more affordable EV models' to market, she said. 'Despite short-term policy fluctuations, the long-term trajectory for EV adoption remains strong,' she added. Some auto makers are less optimistic. They want the federal government to drop a mandate for EVs to make up 20 per cent of cars sold in Canada by 2026 and 100 per cent by 2035 – arguing that slowing EV sales and US tariffs have delayed efforts to build an electric vehicle supply chain. Ontario Premier Doug Ford, speaking at a joint press conference on Tuesday with Alberta's Danielle Smith and Saskatchewan's Scott Moe, said: 'We have to get rid of these mandates. The companies won't be able to meet these targets. But let's not stop spending. I am confident that the EV sector will grow eventually.' Environment Minister Julie Dabrusin has been unswayed by their arguments so far, according to media reports. Canada's 'competitive advantages' Fortier said Canada's automotive sector cannot hope to be 'globally relevant in 10-15 years' unless Ottawa focuses on 'competitive advantages that our neighbours don't have' in areas including critical minerals, advanced industrial materials, and EV battery technology. 'If we do that now, Canada can become a necessary part of the continental supply chain, and we can have leverage in the auto sector when EVs are the dominant mode of vehicle production in North America,' Fortier said. The US is by far the biggest market for Canadian-made cars and trucks, with 93 per cent of the $51 billion in vehicles exported in 2023 shipped south of the border, according to the Canadian Vehicle Manufacturers' Association, an industry trade body. The US imposed a 25 per cent tariff on Canadian auto makers and parts manufacturers in April, forcing hundreds of job losses in Ontario, the industry's historic heartland. Trump has threatened to raise the tariffs to 35 per cent on Aug 1. A high-profile US-Japan trade deal announced today (Wednesday) will see the US tariff on Japan's auto sector lowered to 15 per cent from 35 per cent. That deal might point to a possible reduction in US tariffs on Canadian car makers, but it is not a long-term solution, Fortier said. 'Any standing tariff on Canadian-made cars is a reminder that we urgently need to develop more negotiating leverage. The way to do this is to build upstream and midstream capacity for the batteries that will power the future of this sector,' he said.
Winnipeg Free Press
3 hours ago
- Winnipeg Free Press
Seniors rarely downsize — here's why that's hurting first-time homebuyers
Realtor Barry Lebow specializes in helping seniors downsize — moving out of the family homes they've lived in for decades to a smaller place that's a better fit for their aging lifestyle. From the outside, that might look like the natural progression: feeding a healthy bit of turnover into the housing supply as move-up buyers seek their own family home. But the reality is a bit different when it comes time to sell, Lebow, who works in the Greater Toronto Area, said in an interview. 'Our customers are not always happy customers,' he said. 'Almost all seniors do not want to move.' Experts say it's a myth that seniors who own their homes are keen to downsize to fund their retirements, when the reality is they're largely staying put, in part because they don't like the downsizing options, making it harder for young prospective buyers to break into the housing market. Seniors are in fact the demographic that's least likely to move, according to data from the 2016 census. 'It's actually quite rare,' said Mike Moffatt, founding director of the Missing Middle Initiative at the University of Ottawa. Lebow said that when seniors do move, it's often because they're facing mobility or money issues — or both. He acknowledged there's a type of older Canadian who's keen to cash out on the family home, move into a smaller condo or apartment and take on a new lifestyle. But these are the unicorns, he said. In his work, it's common to come across seniors with three- or four-bedroom houses and no children at home to fill them anymore. More space than they need, in all likelihood, but no motivation to let it go. 'Moving is a traumatic experience,' Lebow said, whether it's the financial cost or the emotional toll of changing addresses and purging years of accumulated belongings. Beyond the typical home showings and paperwork, his job has ranged from rehoming a pet dog who couldn't be accommodated in a new abode to acting as de facto mediator when the prospect of mom or dad downsizing becomes a tense family conflict. Some of his clients are also facing cognitive decline, Lebow said, and only see their real estate agent as the guy trying to throw them out of their home. 'Believe me, I've been yelled at,' Lebow said. A Canada Mortgage and Housing Corp. report from November 2023 also found that while there was a bit of a shift toward downsizing as Canadians age, that trend is still limited to a minority of older households. There's also minimal movement to condos or rental properties as Canadians age, the report found. Data from CMHC indicates the 'sell rate'— the proportion of Canadians older than 75 who are cashing out of the housing market — fell steadily between 1991 and 2021. Canadians are living longer and might also be in better financial shape as they get older, the agency said, letting them age in place. 'In order for them to leave, they would need something that met their needs as much. And often, that doesn't exist,' Moffatt said. Among the biggest factors motivating — or hindering — a move are cost and lifestyle, he said. Many seniors still want to be able to garden and host family over the holidays, he said, which makes a one-or-two bedroom condo in the downtown core unappealing. Moffatt said many older Canadians are keen to stay in their existing neighbourhoods, but smaller options are not readily available. Modern infill units set up for street-level access in older, residential neighbourhoods are the kinds of options many seniors need to give moving a second thought. The kind of sixplex-unit zoning recently up for debate at Toronto city council would create the kinds of units that would be right for many would-be downsizers, Moffatt noted. Toronto ultimately decided last month to broaden sixplex zoning to only some wards, leaving the others to opt in if they choose. Moving houses is also expensive when it comes to hiring movers, staging costs and the myriad of taxes and fees for real estate agents and lawyers. Measures to reduce the tax burden seniors face when moving can help to encourage more turnover of family homes, Moffatt said. The Liberal government tabled legislation in May to waive the federal GST on new homes, but it only applies to first-time homebuyers. Moffatt said it would 'absolutely' help improve supply in the housing market if that policy were extended to downsizing seniors. Such a move could sweeten the deal for seniors who are open to getting into a smaller condo unit but don't see the financial value in the move. That could spur a positive domino effect in the market: Moffatt explained that when move-up buyers are able to leave behind their starter homes to take on seniors' larger properties, that opens up more supply at the bottom of the housing ladder for first-time buyers. Monday Mornings The latest local business news and a lookahead to the coming week. The Canadian Press reached out to Finance Minister François-Philippe Champagne to ask if the federal government would consider expanding the GST rebate to seniors. A Finance Canada spokesperson did not mention seniors in their response, only saying in an email that the GST rebate is meant to help first-time buyers enter the housing market by lowering upfront costs to buying a home and spurring the construction of new housing across Canada. 'Incentivizing or reducing the barriers to building housing across the board benefits everyone,' Moffatt said. 'It is kind of an irony, but one of the best things we can do to help first-time homebuyers is to make it easier for seniors to move into new housing.' This report by The Canadian Press was first published July 25, 2025.
