Anglais

Young families scrimp to own homes in Canada’s big cities, report finds

Published

5 années ago

février 13, 2019

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Young families in Canada’s big cities believe houses and condos will be a good investment over the next five years, and they are sacrificing their privacy, time and small pleasures to buy them, according to a report by Sotheby’s International Realty Canada.

The study is based on a survey of 1,743 families headed by adults aged 20 to 45. It found that millennials and generation Xers are delaying both retirement savings and paying off credit card and student debt in order to afford homes, with 78 per cent expecting homes to match or outperform other financial investments over the next five years. In Toronto, that number rises to 83 per cent.

A new study found that young families in Canada are delaying both retirement savings and paying off credit card and student debt in order to afford homes. (Sean Kilpatrick / THE CANADIAN PRESS FILE PHOTO)

But the biggest barrier to buying, cited by 33 per cent of families, is the expense of day-to-day living — groceries, rent and utilities. That’s a “concerning” trend, said Sotheby’s CEO Brad Henderson.

“Increasingly, it is the essentials in life that are absorbing most of everyone’s income,” Henderson said. “It speaks to trying to find more higher-paying jobs, more knowledge worker jobs that are able to afford, not just the necessities of life, but some of the things that make life even that much more pleasurable, like a home with multiple bedrooms for a growing family.”

The report is the second in a series of three based on a survey of families in which the adults were aged 20 to 45. Market research firm Mustel Group found 57 per cent of those households in Toronto, Vancouver, Calgary and Montreal were couples with at least one child, 35 per cent had no children, and 8 per cent were single-parent families.

Thakar shares an apartment with a cousin to save on rent, has a side job to earn income in his off-time and has refinanced a student loan. It will take him longer to pay off that debt, but he figures home prices are rising so quickly that it’s important to stash his cash now.

“If you’re not earning money, you’re spending money,” said Thakar, who owns a car but takes transit to his job downtown and questions the expense of a vehicle he doesn’t use much.

“I feel like being prudent at this time might set me up down the road.”

But Thakar expects he might need help from his family to afford a home and, even though he likes his privacy, he would consider a house with a rental unit to help carry the cost.

Among survey respondents, 51 per cent said they saved by cutting down on dining out, 45 per cent reduced their travel and vacation expenses, and 20 per cent delayed retirement savings.

Toronto families were most likely to reduce their car ownership (16 per cent), to freelance or pick up extra work (16 per cent) or to delay having children (15 per cent). Thirteen per cent of Toronto respondents moved in with family to save money, compared to only 5 per cent in Calgary and Montreal.

Henderson says the findings put the lie to the idea that millennials and generation X adults are “live-in-the-moment” people.

“We’re finding they’re acting not too dissimilar to the generations that came before them and forgoing the trips and eating out and all of the things that require additional money, in favour of buying a home for their family to live in,” he said.

When it comes to putting money down on a home, the survey found 71 per cent used personal savings and cash for a down payment. Although 52 per cent of the families relied on a gift or inheritance, those funds accounted for less than 30 per cent of their down payments. Thirty-one per cent borrowed from their registered retirement savings plans (RRSPs).

Young adults have always saved and scrimped to buy homes but a greater proportion of income now goes to paying rent, leaving little for savings, said mortgage broker James Laird of CanWise Financial and online mortgage site Ratehub. It’s why so many young adults end up moving back in with parents.

“We’re seeing a decline in the percentage of young people able to purchase homes versus previous generations,” he said. But the desire hasn’t waned.

“Millennials could be the largest voter base in the federal election and this is the issue we all care about,” said Laird, 34.

He thinks longer amortizations — from 25 years to 30 for buyers with down payments of less than 20 per cent — would provide relief. “It’s a beautiful solution because they qualify for about 10 per cent more mortgage but their payment doesn’t change so they’re no more financially strapped,” said Laird.

Those who borrow from their RRSP still have to pay that money back. Laird said Ottawa should create a homebuyers plan that behaves the same — allowing first-time buyers to access $25,000 of their savings — without the requirement to repay the funds.

The Mustel survey was conducted online in August and September. A random sample of 1,743 is considered accurate within 2.3 percentage points, 19 times out of 20.

Tess Kalinowski is a Toronto-based reporter covering real estate. Follow her on Twitter: @tesskalinowski

Anglais

Nostalgia and much more with Starburst XXXtreme

Published

3 années ago

août 10, 2021

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Get a taste of adventure with Starburst XXXtreme based on the legendary NetEnt Game. The nostalgic themes are sure to capture fans of the classic version as they get treated to higher intensity, better visuals, and features. The most significant element of the game is its volatility. Patience will not be an essential virtue considering the insane gameplay, and there is a lot of win potential involved. It retains the original makeup of the previous game while adding a healthy dose of adrenaline.

Starburst Visuals and Symbols

The game is definitely more conspicuous than before. The setting happens over a 5-reel, 3-row game grid with nine fixed win lines, which function if a succession from the left to the right reel is present. Only those players that that attain the highest win per bet line are paid. From a visual standpoint, the Starburst XXXtreme slots illustrates lightning effects behind the reels, which is not surprising as it is inherited from the original version. Available themes include Classic, Jewels, and Space. The game is also available in both desktop and mobile versions, which is advantageous for players considering the global pandemic. According to Techguide, American gamers are increasingly having more engaging gaming experiences to socialize to fill the gap of in-person interaction. Starburst XXXtreme allows them to fill the social void at a time when there is so much time to be had indoors.

Starburst XXXTreme Features

Players get to alternate on three features which are Starburst Wilds, XXXtreme Spins, and Random Wilds. The first appears on reels 2,3, or 4. When these land, they expand to cover all positions while also calculating the wins. They are also locked for a respin. If a new one hits, it also becomes locked while awarding another respin. Starburst XXXtreme offers a choice between two scenarios for a higher stake. In one scenario with a ten times stake, the Starburst Wild is set on random on reels 2,3, or 4, and a multiplier starts the respin. The second scenario, which has a 95 times stake, starts with two guaranteed starburst wilds on reels 2,3, or 4. it also plays out using respin game sequence and features. The game also increases the potential with the Random Wilds feature to add Starburst Wilds to a vacant reel at the end of a spin. Every Starburst Wild gives a random multiplier with potential wins of x2, x3, x5, x10, x25, x50, x100, or even x150.

The new feature is sure to be a big hit with the gaming market as online gambling has shown significant growth during the lockdown. AdAge indicates the current casino customer base is an estimated one in five Americans, so Starburst XXXtreme’s additional features will achieve considerable popularity.

What We Think About The Game

The gambling market has continued to diversify post-pandemic, so it is one of the most opportune times to release an online casino-based game. Thankfully Starburst XXXtreme features eye-catching visuals, including the jewels and space themes. These attract audience participation and make the gameplay inviting. The game also has a nostalgic edge. The previous NetEnt iteration featured similar visuals and gameplay, so the audience has some familiarity with it. The producers have revamped this version by tweaking the features to improve the volatility and engagement.

That is characterized by the potential win cap of 200,000 times the bet. Starburst XXXtreme does not just give betting alternatives for players that want to go big. The increase of multipliers also provides a great experience. If the respins in the previous version were great, knowing that multipliers can go hundreds of times overtakes the game to a new level.

Players should get excited about this offering. All of the features can be triggered within a single spin. Whether one plays the standard game or takes the XXXtreme spin route, it is possible to activate all of the features. Of course, the potential 200,000 times potential is a huge carrot. However, the bet size is probably going to be restricted and vary depending on the casino. It is also worth pointing out that a malfunction during the gameplay will void all of the payouts and progress. Overall, the game itself has been designed to provide a capped win of 200,000 times the original bet.

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Anglais

‘We’re back’: Montreal festival promoters happy to return but looking to next year

Published

3 années ago

juillet 23, 2021

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In downtown Montreal, it’s festival season.

In the city’s entertainment district, a musical act was conducting a sound check on stage Friday evening — the second day of the French-language version of the renowned Just For Laughs comedy festival. Tickets for many of the festival’s free outdoor shows — limited by COVID-19 regulations — were sold out.

Two blocks away, more than 100 people were watching an acoustic performance by the Isaac Neto Trio — part of the last weekend of the Festival International Nuits d’Afrique, a celebration of music from the African continent and the African diaspora.

With COVID-19 restrictions continuing to limit capacity, festival organizers say they’re glad to be back but looking forward to next year when they hope border restrictions and capacity limits won’t affect their plans.

Charles Décarie, Just For Laughs’ CEO and president, said this is a “transition year.”

“Even though we have major constraints from the public health group in Montreal, we’ve managed to design a festival that can navigate through those constraints,” Décarie said.

The French-language Juste pour rire festival began on July 15 and is followed by the English-language festival until July 31.

When planning began in February and March, Décarie said, organizers came up with a variety of scenarios for different crowd sizes, ranging from no spectators to 50 per cent of usual capacity.

“You’ve got to build scenarios,” he said. “You do have to plan a little bit more than usual because you have to have alternatives.”

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Anglais

MELS new major movie studio to be built in Montreal

Published

3 années ago

juillet 23, 2021

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MONTREAL — MELS Studios will build a new film studio in Montreal, filling some of the gap in supply to meet the demand of Hollywood productions.

MELS president Martin Carrier said on Friday that MELS 4 studio construction will begin « as soon as possible », either in the fall or winter of next year. The studio could host productions as early as spring 2023.

The total investment for the project is $76 million, with the Quebec government contributing a $25 million loan. The project will create 110 jobs, according to the company.

The TVA Group subsidiary’s project will enable it to stand out « even more » internationally, according to Quebecor president and CEO Pierre Karl Péladeau. In the past, MELS Studios has hosted several major productions, including chapters of the X-Men franchise. The next Transformers movie is shooting this summer in Montreal.

Péladeau insisted that local cultural productions would also benefit from the new facility, adding that the studio ensures foreign revenues and to showcase talent and maintain an industry of Quebec producers.

STUDIO SHORTAGE

The film industry is cramped in Montreal.

According to a report published last May by the Bureau du cinéma et de la télévision du Québec (BCTQ), there is a shortage of nearly 400,000 square feet of studio space.

With the addition of MELS 4, which will be 160,000 square feet, the company is filling part of the gap.

Carrier admitted that he has had to turn down contracts because of the lack of space, representing missed opportunities of « tens of millions of dollars, not only for MELS, but also for the Quebec economy. »

« Montreal’s expertise is in high demand, » said Montreal Mayor Valérie Plante, who was present at the announcement.

She said she received great testimonials from « Netflix, Disney, HBO and company » during an economic mission to Los Angeles in 2019.

« What stands out is that they love Montreal because of its expertise, knowledge and beauty. We need more space, like MELS 4, » she said.

There is still not enough capacity in Quebec, acknowledged Minister of Finance, the Economy and Innovation Eric Girard.

« It is certain that the government is concerned about fairness and balance, so if other requests come in, we will study them with the same seriousness as we have studied this one, » he said.

Grandé Studios is the second-largest player in the industry. Last May, the company said it had expansion plans that should begin in 2022. Investissement Québec and Bell are minority shareholders in the company.

For its part, MELS will have 400,000 square feet of production space once MELS 4 is completed. The company employs 450 people in Quebec and offers a range of services including studio and equipment rentals, image and sound postproduction, visual effects and a virtual production platform.