What is the Statement of Adjustments?

For many, homeownership in Canada remains unattainable due to high prices and elevated mortgage rates, so how is it possible that the average mortgage balance is on a downward trajectory for young families? According to TD Bank economist Maria Solovieva, one trend that has stood out for several quarters now in Statistics Canada’s Distributions of Household Economic Accounts is the steady decline in average mortgage balances of young families, even as mortgage debt has continued to rise for all other age groups. Since the peak in Q3 2022, the average mortgage balance among households where the primary earner is under 35 years of age has fallen by $17,000. Compared to Q1 2023, the reduction stands at $11,200. Over the same period, mortgage balances increased by $23,100 for households aged 55-64 and by $6,000 for those aged 65 and older. View More Details

Latincouver is bringing its big cultural celebration back to Langley City with the return of Carnavalito on the Road. After the success of Carnavalito in 2024, the organizers are hoping to make this year's event even bigger. "It was so very very nice when we were in Langley," said Paola Murillo, Latincouver founder and executive director. "…Our own team was 'Wow, people were so open and happy we were there." Murillo added that the vendor feedback was great after the 2024 event. So Latincouver, the community group devoted to spotlighting Latin cultures, returns to Douglas Park with the festival that run from noon until 9 p.m. This one-day celebration on Saturday, Aug. 30 recreates the feeling of a Latin American city plaza with multiple cultural areas and programming for all ages. Visitors can enjoy live music from Latin bands representing Brazil, Colombia, Mexico, and more, with popular rhythms like samba, cumbia, and mariachi. More Details Here