Latest news with #Leger
CTV News
9 hours ago
- Business
- CTV News
Plan on retiring but still paying off your mortgage? We want to hear from you
A recent Royal LePage survey, conducted by Léger, shows nearly a third of Canadians retiring within the next two years won't have their home paid off. (iStock / Getty Images Plus) Are you nearing retirement and still paying off your mortgage? You're not alone. A new Royal LePage survey, conducted by Leger, reveals a shifting financial reality for Canadians on the cusp of retirement. Nearly three in 10 Canadians (29 per cent) planning to retire in the next two years say they'll still be making mortgage payments when they leave the workforce, with almost half (47 per cent) saying they don't intend to downsize their homes. Statistics Canada data also shows that the average retirement age in the country has gradually increased, up to 65.3 in 2024 compared to 64.3 in 2020. Are you approaching retirement with mortgage debt still on the books? Are you planning to stay in your current home, or are you considering a move to a smaller space? Whether you've made your move, are in the midst of planning, or are trying to figure it all out, we want to hear from you. Share your story by emailing us at dotcom@ with your name, general location and phone number in case we want to follow up. Your comments may be used in a story. The online survey of 1,626 Canadians aged 18 and up was conducted between May 2 and May 4, 2025, using Leger's online panel that has approximately 400,000 members nationwide and a 90 per cent retention rate.
Global News
18 hours ago
- Politics
- Global News
‘It makes us different': Quebec couple rejoicing King Charles III's visit to Canada
One hundred and fifty kilometres away from where King Charles III was delivering his speech from the throne, British Canadian citizens Nicky Fisher and Derek Jones were listening in with great interest. 'The monarchy is still very important to Canadians — not all of them, but a lot of them,' Jones said. 'It's where we came from, a lot of us. And he still represents all of that.' The couple, who run a British specialty food and gift shop in Vaudreuil, Que., say the King's mere presence in Ottawa is his way of reaffirming his support for Canada in the face of threats to the country's sovereignty from U.S. President Donald Trump. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'I think that it's very important that those south of the border know that we are not the same — we run on a different system,' Fisher said. 'And although not everybody is a great fan of the Royal Family, I feel that they bring something to the Commonwealth — it makes us different and I think that's a good thing.' Story continues below advertisement But some people, including many Quebecers, don't see the monarchy in the same light. A recent Leger poll shows 87 per cent of Quebecers don't have any attachments to the monarchy — and many would vote in favour of breaking ties. In Quebec City on Tuesday, Parti Québécois Leader Paul St-Pierre Plamondon laughed when a reporter suggested that some see the King's visit as a gesture of Canadian sovereignty and criticized Prime Minister Mark Carney for inviting him. 'If you think, or anyone here thinks, that Donald Trump will stop saying things that are random or hostile because Charles the Third was giving a speech today, I don't know what game we're playing right now. It doesn't make sense,' Plamondon said.
Yahoo
2 days ago
- Business
- Yahoo
The new real estate reality for retirees: Exiting the workforce with mortgage debt
Nearly a third of Canadians retiring within the next two years say they won't have their home paid off Highlights: Three in ten Canadians (29%) planning to retire within the next two years say they will carry a mortgage into retirement. Nearly half (47%) of Canadians approaching retirement say they do not plan to downsize their home. 43% of Royal LePage experts say condominiums are the most popular property type among downsizing retirees. TORONTO, May 27, 2025 /CNW/ - A recent Royal LePage survey, conducted by Leger,1 suggests a new housing reality for older Canadians is taking shape. According to the survey, nearly three in ten Canadians (29%) who are planning to retire in 2025 or 2026 say they will continue to make mortgage payments on their primary residence into retirement. The trend seems to be accelerating, as affordability continues to challenge Canadians of all ages: only half as many senior households had mortgage debt approximately ten years ago. According to Statistics Canada, 14 per cent of households with income earners aged 65 and over had a mortgage in 2016, up significantly from eight per cent in 1999.2 "The benefits of entering retirement as a homeowner with a paid-off mortgage are clear: more disposable income, insulation from interest rate changes, and even the emotional security that comes from knowing you'll always have a place to live. In the era of rotary phones and station wagons, burning your mortgage was the economic finish line. Today's retiree reality is much more nuanced," said Phil Soper, president and CEO, Royal LePage. Nearly half of those planning to retire in 2025 or 2026 (45%) say that their mortgage is currently paid off, while another six per cent say their mortgage will be paid off before retirement. Forty-six per cent of respondents approaching retirement say they will downsize their home within two years of ending full-time employment, while 47 per cent say they will not. "Home price appreciation over the past 25 years has been a double-edged sword for today's retirees," said Soper. "On one hand, it has delivered unprecedented financial gains. On the other, this generation is far more likely to have carried mortgage balances that would have been unimaginable to their parents or grandparents. Our research confirms they are also much more likely to have provided financial assistance to their children to assist in their home ownership dreams. "While previous generations may have viewed mortgage-free retirement as the only option, today's retirees tend to be more open-minded. Traditional employment income may have dried up, but many are still comfortably managing their expenses and servicing mortgage payments, with income from investments, part-time work, or a working spouse." The average age of retirees in Canada has been gradually increasing. Statistics Canada reports the average retirement age was 65.3 in 2024, up from 64.3 in 2020.3 At the same time, Canadians are entering the housing market later, increasing the odds of future generations of retirees carrying a mortgage further into retirement. A 2023 Royal LePage report4 states that 24 per cent of first-time homebuyers were under the age of 30; 33 per cent were aged 30-34; while 43 per cent were aged 35 or older. Compared to the results of the same survey in 2021 – which found that only 33 per cent were aged 35 and up – it is clear that Canadians are buying their first homes later in life. "Compared to their grandparents, today's retirees are enjoying about fifty per cent more years after turning 65. They're working longer, staying active, and in many ways, continuing the lives they led during their working years – just without the job. It's no surprise their attitudes toward home ownership have evolved with the times. With people buying their first homes later and working longer, it's increasingly common for Canadians to carry a mortgage well into retirement, often by choice rather than necessity." __________________________________1 An online survey of 1,626 Canadians ages 18+ was completed between May 2-4, 2025, using Leger's online panel. Leger's online panel has approximately 400,000 members nationally and has a retention rate of 90 per cent. A probability sample of the same size would yield a margin of error of +/- 2.4 per cent, 19 times out of 20. 2 Statistics Canada, Debt and assets among senior Canadian families, Survey of Financial Security, April 3, 2019 3 Statistics Canada, Retirement age by class of worker, annual, Table 14-10-0060-01 Retirement age by class of worker, annual 4 Down payment dilemma: Canadian first-time homebuyers fear of falling short is escalating, June 2023 Retirees split on downsizing versus staying put The decision to downsize in retirement is a highly personal one based on lifestyle preferences, and Canadians are largely divided on the matter, according to a recent Royal LePage survey of real estate professionals across the country.5 Nationally, 44 per cent of respondents say that, in their respective markets, there is an approximately even split between those looking to downsize and those choosing to stay in their current homes; 28 per cent say that a majority of people nearing or entering retirement are downsizing to a smaller home; 21 per cent say that a majority of retirees are choosing to remain in their current home. In Manitoba and Saskatchewan, the highest percentage of respondents in Canada (46%) say the majority of retirees are choosing to downsize. Meanwhile, Quebec and Ontario have the highest percentage of respondents who say the majority of retirees are choosing to remain in their current homes, each at 24 per cent. Sixty-three per cent of respondents in Alberta say there is an even split between those downsizing and those opting to stay in their current homes. "Downsizing in retirement is far from a given. For many homeowners, the decision to stay put or move to a smaller property is influenced by a combination of economic realities, lifestyle needs, and personal attachments," said Soper. "Some see a smaller home as a practical and liberating choice – less maintenance, more liquidity to fund travel or to support their children's home ownership journey. But for others, there's no compelling financial reason to move. They enjoy the space that comes with a detached home – for gardening, entertaining, or simply storing the gear that goes along with their hobbies. Many take pride in the home they've worked decades to own outright, and see no reason to give it up." Of those Royal LePage experts who say that a majority of people nearing or entering retirement are downsizing, 43 per cent say that standard condominiums are the most popular property type among this cohort, followed by adult living communities that cater to those aged 55 and up (25%), and detached properties (16%). When it comes to the features that are most important to downsizers, 38 per cent of respondents say a single-level layout is a priority; followed by proximity to hospitals, community amenities and services (27%); proximity to family and friends (25%); paid maintenance services (19%); and, covered parking (17%). Respondents were able to select more than one answer. ______________________________5 A national online survey of 471 Royal LePage brokers and sales representatives serving buyers and sellers in Canada was conducted between May 7, 2025, and May 14, 2025. The Retired Homeowner - Data Chart: Survey Results: Royal LePage resources for homeowners considering downsizing: 4 downsizing tips that will take your home from chaos to calm Moving to a new province? Here's how to relocate like a pro Sold your home? Don't forget these 4 important steps before you leave Should you buy or sell your home first? Here's how to decide 6 tips for a seamless moving day About the Leger Survey An online survey of 1,626 Canadians ages 18+ was completed between May 2-4, 2025, using Leger's online panel. Leger's online panel has approximately 400,000 members nationally and has a retention rate of 90 per cent. A probability sample of the same size would yield a margin of error of +/- 2.4 per cent, 19 times out of 20. About the Royal LePage Advisor Survey A national online survey of 471 Royal LePage brokers and sales representatives serving buyers and sellers in Canada was conducted between May 7, 2025, and May 14, 2025. About Royal LePage Serving Canadians since 1913, Royal LePage is the country's leading provider of services to real estate brokerages, with a network of approximately 20,000 real estate professionals in over 670 locations nationwide. Royal LePage is the only Canadian real estate company to have its own charitable foundation, the Royal LePage® Shelter Foundation™, which has been dedicated to supporting women's shelters and domestic violence prevention programs for 25 years. Royal LePage is a Bridgemarq Real Estate Services® Inc. company, a TSX-listed corporation trading under the symbol TSX:BRE. For more information, please visit Royal LePage® is a registered trademark of Royal Bank of Canada and is used under licence by Bridgemarq Real Estate Services® Inc. SOURCE Royal LePage Real Estate Services View original content: Sign in to access your portfolio
Cision Canada
2 days ago
- Business
- Cision Canada
2025 MNP Municipal Report: Canadian local governments lean into AI and analytics to drive meaningful progress
New report from MNP and Leger reveals the barriers, priorities, and progress shaping local government modernization in 2025 CALGARY, AB, May 26, 2025 /CNW/ - Local governments across Canada are advancing how they use data and artificial intelligence (AI) to better serve their communities. By addressing resource needs, improving data accessibility, and developing internal capabilities, municipalities are poised to drive more consistent outcomes across the country. According to MNP's latest Municipal Report, developed in partnership with Leger, 23 percent of Canadian municipalities are currently using AI, though over half are actively exploring or planning adoption. What's driving this momentum? A push for more efficient service delivery, better decision-making, and stronger community connections. Building on insights from MNP's 2024 and 2023 Municipal Reports, this year's edition reflects responses from 282 local and regional governments. The report highlights the changes in priorities, persistent challenges, and emerging tools influencing the municipal landscape today. "Municipalities aren't interested in technology for technology's sake. They're looking for practical solutions that help them solve real problems for real people," says James Richardson, Partner and National Leader of MNP's Municipal Community of Practice. "This report provides insights on the issues and priorities that can help them craft their local approach to making pragmatic, sustainable progress — even in the face of limited budgets or complex systems." What are the top priorities for local governments? This year's study shows local governments remain focused on core responsibilities like cyber security, customer service, and technology modernization. However, emerging priorities such as AI, data analytics, and smart city initiatives have surged in importance. Key municipal priorities in 2025 include: Cyber security and privacy (78%) Citizen experience and service delivery (65%) Technology modernization (63%) Artificial intelligence (48%, more than double from 2024) Smart cities and digital infrastructure (47%, up 12% from 2023) "Across Canada, we're seeing a shift toward data-driven decision making, but it requires more than just new tools," Wendy Gnenz, Partner and National Municipal Digital Leader at MNP. "Municipalities need to embrace a new way of providing programs and services — capitalizing on the vast amounts of data they have at their fingertips. What's standing in the way of progress? While priorities are clear, implementation remains challenging. Municipalities report persistent barriers, including: Insufficient resources (50%) Complicated decision-making processes and outdated procedures (44%, double from 2023) Legacy technology systems (43%) Lack of subject matter expertise (36%) Although overall resource constraints have declined slightly since 2023, issues tied to legacy policies, systems, and risk aversion is becoming more prominent blockers to progress. Nearly one-third of municipalities still lack formal guidelines for using AI, and nearly half rely primarily on Excel for analytics, limiting their ability to extract deeper insights or make predictive decisions. Another challenge lies in cyber security preparedness. While 83 percent of respondents say they feel prepared to manage data privacy and cyber threats, fewer than 35 percent consider themselves very prepared. In response, roughly three out of four identified cyber security training as one of their top internal needs — signalling the growing importance of capacity-building alongside new technology investments. How are municipalities using AI today Among those using AI, the most common applications focus on practical, people-first outcomes: Customer service chatbots and citizen engagement tools Public safety and environmental monitoring Internal HR functions like scheduling and recruitment At the same time, municipalities are prioritizing self-service platforms to improve access and convenience for citizens. These tools include mobile apps and online portals for taxes, permits, issue reporting, and other services. These investments are helping reduce administrative pressure while improving the overall customer experience. Why MNP leads this work As the pace of change accelerates, municipalities don't need a complete overhaul. They need clarity, confidence, and the right resources to keep moving forward. That's why MNP continues to lead this national study. We're committed to being a reference point and thought leader for Canadian local governments — providing relevant insights to help communities navigate challenges and seize new opportunities. Whether they're implementing developing technologies, rethinking service delivery, or building internal capacity, we believe every community deserves a roadmap tailored to its unique needs and realities. This report is one way we support that mission, offering grounded, data-driven perspectives that leaders can use to make informed, people-focused decisions. For survey data, analysis, and expert insights, download the full report here: About MNP LLP National in scope and local in focus, MNP is one of Canada's leading professional services firms — proudly serving individuals, businesses, and organizations since 1958. Through the development of strong relationships, we provide client-focused accounting, consulting, tax, and digital services. Our clients benefit from personalized strategies with a local perspective to fuel success wherever business takes them. For more information, visit
Yahoo
2 days ago
- Business
- Yahoo
2025 MNP Municipal Report: Canadian local governments lean into AI and analytics to drive meaningful progress
New report from MNP and Leger reveals the barriers, priorities, and progress shaping local government modernization in 2025 CALGARY, AB, May 26, 2025 /CNW/ - Local governments across Canada are advancing how they use data and artificial intelligence (AI) to better serve their communities. By addressing resource needs, improving data accessibility, and developing internal capabilities, municipalities are poised to drive more consistent outcomes across the country. According to MNP's latest Municipal Report, developed in partnership with Leger, 23 percent of Canadian municipalities are currently using AI, though over half are actively exploring or planning adoption. What's driving this momentum? A push for more efficient service delivery, better decision-making, and stronger community connections. Building on insights from MNP's 2024 and 2023 Municipal Reports, this year's edition reflects responses from 282 local and regional governments. The report highlights the changes in priorities, persistent challenges, and emerging tools influencing the municipal landscape today. "Municipalities aren't interested in technology for technology's sake. They're looking for practical solutions that help them solve real problems for real people," says James Richardson, Partner and National Leader of MNP's Municipal Community of Practice. "This report provides insights on the issues and priorities that can help them craft their local approach to making pragmatic, sustainable progress — even in the face of limited budgets or complex systems." What are the top priorities for local governments?This year's study shows local governments remain focused on core responsibilities like cyber security, customer service, and technology modernization. However, emerging priorities such as AI, data analytics, and smart city initiatives have surged in importance. Key municipal priorities in 2025 include: Cyber security and privacy (78%) Citizen experience and service delivery (65%) Technology modernization (63%) Artificial intelligence (48%, more than double from 2024) Smart cities and digital infrastructure (47%, up 12% from 2023) "Across Canada, we're seeing a shift toward data-driven decision making, but it requires more than just new tools," Wendy Gnenz, Partner and National Municipal Digital Leader at MNP. "Municipalities need to embrace a new way of providing programs and services — capitalizing on the vast amounts of data they have at their fingertips. What's standing in the way of progress?While priorities are clear, implementation remains challenging. Municipalities report persistent barriers, including: Insufficient resources (50%) Complicated decision-making processes and outdated procedures (44%, double from 2023) Legacy technology systems (43%) Lack of subject matter expertise (36%) Although overall resource constraints have declined slightly since 2023, issues tied to legacy policies, systems, and risk aversion is becoming more prominent blockers to progress. Nearly one-third of municipalities still lack formal guidelines for using AI, and nearly half rely primarily on Excel for analytics, limiting their ability to extract deeper insights or make predictive decisions. Another challenge lies in cyber security preparedness. While 83 percent of respondents say they feel prepared to manage data privacy and cyber threats, fewer than 35 percent consider themselves very prepared. In response, roughly three out of four identified cyber security training as one of their top internal needs — signalling the growing importance of capacity-building alongside new technology investments. How are municipalities using AI todayAmong those using AI, the most common applications focus on practical, people-first outcomes: Customer service chatbots and citizen engagement tools Public safety and environmental monitoring Internal HR functions like scheduling and recruitment At the same time, municipalities are prioritizing self-service platforms to improve access and convenience for citizens. These tools include mobile apps and online portals for taxes, permits, issue reporting, and other services. These investments are helping reduce administrative pressure while improving the overall customer experience. Why MNP leads this workAs the pace of change accelerates, municipalities don't need a complete overhaul. They need clarity, confidence, and the right resources to keep moving forward. That's why MNP continues to lead this national study. We're committed to being a reference point and thought leader for Canadian local governments — providing relevant insights to help communities navigate challenges and seize new opportunities. Whether they're implementing developing technologies, rethinking service delivery, or building internal capacity, we believe every community deserves a roadmap tailored to its unique needs and realities. This report is one way we support that mission, offering grounded, data-driven perspectives that leaders can use to make informed, people-focused decisions. For survey data, analysis, and expert insights, download the full report here: About MNP LLPNational in scope and local in focus, MNP is one of Canada's leading professional services firms — proudly serving individuals, businesses, and organizations since 1958. Through the development of strong relationships, we provide client-focused accounting, consulting, tax, and digital services. Our clients benefit from personalized strategies with a local perspective to fuel success wherever business takes them. For more information, visit SOURCE MNP View original content: Sign in to access your portfolio
