Primary Country (Mandatory)

United States

Other Country (Optional)

Set News Language for United States

Primary Language (Mandatory)
English
Other Language[s] (Optional)
No other language available

Set News Language for World

Primary Language (Mandatory)
English
Other Language(s) (Optional)

Set News Source for United States

Primary Source (Mandatory)
CNN
Other Source[s] (Optional)

Set News Source for World

Primary Source (Mandatory)
AajTak
Other Source(s) (Optional)
  • Countries
    • India
    • United States
    • Qatar
    • Germany
    • China
    • Canada
    • World
  • Categories
    • National
    • International
    • Business
    • Entertainment
    • Sports
    • Special
    • All Categories
  • Available Languages for United States
    • English
  • All Languages
    • English
    • Hindi
    • Arabic
    • German
    • Chinese
    • French
  • Sources
    • India
      • AajTak
      • NDTV India
      • The Hindu
      • India Today
      • Zee News
      • NDTV
      • BBC
      • The Wire
      • News18
      • News 24
      • The Quint
      • ABP News
      • Zee News
      • News 24
    • United States
      • CNN
      • Fox News
      • Al Jazeera
      • CBSN
      • NY Post
      • Voice of America
      • The New York Times
      • HuffPost
      • ABC News
      • Newsy
    • Qatar
      • Al Jazeera
      • Al Arab
      • The Peninsula
      • Gulf Times
      • Al Sharq
      • Qatar Tribune
      • Al Raya
      • Lusail
    • Germany
      • DW
      • ZDF
      • ProSieben
      • RTL
      • n-tv
      • Die Welt
      • Süddeutsche Zeitung
      • Frankfurter Rundschau
    • China
      • China Daily
      • BBC
      • The New York Times
      • Voice of America
      • Beijing Daily
      • The Epoch Times
      • Ta Kung Pao
      • Xinmin Evening News
    • Canada
      • CBC
      • Radio-Canada
      • CTV
      • TVA Nouvelles
      • Le Journal de Montréal
      • Global News
      • BNN Bloomberg
      • Métro
Ficerd Women's Ribbed T-Shirts Buy Now
Bandhani Georgette Saree Buy Now
Floral Net Saree Buy Now
The Psychology of Money Buy Now
Men's Blazer Casual Sport Coats Buy Now
Lace Up Loafers Shoes Buy Now
Aldo Legoirii Tote Buy Now
Lee Men's Regular Fit Straight Leg Jean Buy Now
Lace & Sequence Georgette Saree Buy Now
Bronax Pillow Slippers Buy Now
Roswear Women's Bermuda Shorts Buy Now
Womens High Waist Yoga Pants Cutout Ripped Leggings Buy Now
Ripped Skinny Jeans Buy Now
Chantomoo Women's Corduroy Slippers Buy Now
Men's Casual Cardigan Sweaters Buy Now
TCL 40-Inch 1080p LED Smart TV Buy Now
Gildan Cotton T-Shirt Pack, Style G2000 Buy Now
JMIERR Men's Casual Shorts Buy Now
10" Android Tablet Buy Now
Whiskey Smoker Kit Buy Now
MoreBack to News Headlines
Did I make a mistake by not investing in a house?

Did I make a mistake by not investing in a house?

CBC
Sunday, August 7, 2022 12:42 PM GMT

This First Person column is the experience of Lise Watson who lives in Toronto. For more information about CBC's First Person stories, please see the FAQ. 

My family and I live down the hall from my 90-year-old mother in a co-op building in the heart of Toronto. She's fiercely independent, and even after my dad died, she insisted on living alone. 

So instead of trying to find her a new home close to me, I packed up my bags and moved into her building. 

The co-op has been our home for over 20 years. We live in an attractive, well-maintained red brick building. We are blessed with two lovely rooftop gardens, a central location close to all amenities and public transit, and a membership that cares deeply about social justice and environmental sustainability. We know and care about all of our neighbours and have a diverse membership of seniors, young children, and differently abled people. Everyone is welcome.

Most importantly, our home is affordable.

As members all pitch in and work together to maintain our building, the co-op can keep rent levels lower than market rates. 

We pay $1,160 monthly for a two-bedroom apartment, and that means we can continue living in a city which is becoming increasingly expensive. Just across the street, a two-bedroom apartment that is not in a co-op building is renting for almost $2,500 per month with heat and hydro on top. And that's the norm. 

I'm grateful to live where I do, but the long-term future for co-ops like ours is uncertain. Established in the 1980s, our co-op is in need of new kitchens, bathrooms and heat pumps. 

While my co-op has savings for capital projects such as this for now, it's built on leased property and its future isn't secure. I'm also constantly reminded of the pressures that many co-ops face in the media. Many are struggling with repair costs; some have been forced to raise rents to factor these expenses into their housing charges. Others need to go to banks to secure new financing or are applying for government assistance. 

If my co-op is unable to maintain its sustainable rent, my family will be forced to look outside the city for affordable housing. 

I am 65 years old. I'm proud and happy with all that I have accomplished in my life, but in these troubled economic and social times, I have some doubts about my life decisions and investments.   

Growing up, I never wanted to be a homeowner. 

My father was the son of a fish and chip shop owner in northern England. He immigrated to Canada with high hopes and dreams in the 1950s. Dad was a self-taught copywriter and layout man. He met and fell in love with my mom at a Toronto ad agency. My parents scrimped and saved to buy a newly built home in Oakville, Ont., in the mid-1960s. It was a dream come true for them at the time. 

Farmer's fields, ravines, and forests surrounded our family home. After finding local cows one day trampling our neighbour's patio, my parents realized that good fencing was a necessity. I still vividly remember my dad digging post holes himself with a crowbar and it seemed to take forever. 

Read full story on CBC
Share this story on:-
Run 3 Space | Play Space Running GamePlay Run 3, the ultimate space tunnel running game with 300+ challenging levels!Adv.
Traffic Jam 3D | Online Racing GameTraffic Jam 3D is a game where you’ll be driving through heavy traffic.Adv.
Duck Hunt | Play Old Classic GamePlay the classic 1984 light gun shooter game Duck Hunt on your browser.Adv.
More Related News
Parking Slot | Free Parking GamePlay Parking Slot, the best online 3D car driving and parking game.Adv.
Slope Ball Run - Play OnlineSlope Game takes you on an exciting journey of a ball on special paths.Adv.
Canned cocktail hitting you hard? As ready-to-drink cans grow in popularity, some are getting stronger

If you've ever put back a can of Cutwater, and only then realized how much booze is in it, TikTok would like to remind you that you're not alone.

Quebec-based Couche-Tard pulls out of bid for 7-Eleven parent company

Alimentation Couche-Tard has backed away from a bid to buy the parent company of Japanese convenience store giant 7-Eleven.

Manitoba woman files proposed class action against Loblaw over alleged underweight meat sales

A Manitoba woman, who blew the whistle on a case in which Loblaw sold underweight meat across 80 stores in Western Canada, has filed a proposed class-action lawsuit against the grocery chain over allegations it consistently overcharges for meat and seafood by including the packaging weight in the final price tag.

Inflation rate rose slightly to 1.9% in June as vehicle and clothing prices climb

The pace of inflation sped up slightly in Canada to 1.9 per cent in the month of June, Statistics Canada said Tuesday.

Ford recalls nearly a million newer vehicles in Canada, U.S. over fuel pump concerns

Ford is recalling nearly a million cars in Canada and the United States because the low-pressure fuel pump inside the vehicles may fail — and potentially cause an engine stall while driving, increasing crash risks.

'It's like Groundhog Day': Canadian dairy producers are used to Trump calling them out, but worry remains

Dairy producers say they're used to U.S. President Donald Trump's jabs at their industry, as he threatens yet another round of tariffs on Canada. But they're still worried about what the continued threats could mean for the supply management system that protects them.

Canada's merchandise trade deficit narrowed to $5.9B in May

Canada's merchandise trade deficit narrowed to $5.9 billion in May, according to data from Statistics Canada, after hitting a record high in April.

Non-profit run by 23andMe co-founder gets court approval to buy the genetic testing company

Anne Wojcicki's bid to buy 23andMe, the genetic testing company she co-founded nearly 20 years ago, has received the court green light.

Lululemon sues Costco over sale of alleged knock-offs

Lululemon is accusing Costco of infringing on its intellectual property by selling knock-offs of some of its most popular products.

© 2008 - 2025 Webjosh  |  News Archive  |  Privacy Policy  |  Contact Us