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5 Unexpected Christmas Ornament Styles Are Trending This Year
Velvet bows, black trees, and minimalism have all dominated the holiday decor world in Christmases past. Whether they were one-season wonders or have stood the test of time, Christmas trends are a fun excuse to try something unexpected and experiment with your style. Take inspiration from this year’s Christmas ornament trends, whether you prefer a modern matte finish, a fresh spin on classic stripes, or craft your own custom felt ornaments, to upgrade your tree. 1. Velvet Ornaments Inspired by last year’s velvet bow trend, velvet ornaments are set to be one of the biggest Christmas ornament trends of 2024. With their matte, powdery finish, velvet ornaments put a unique twist on typical solid-color ornaments. Mix velvet ornaments with metallic ones to create a tree with tons of texture and visual interest. To make your own velvet ornaments, mix 1 Tbsp. plaster powder with 1 Tbsp. cold water. Once combined, add 2 ounces of matte finish craft paint. Paint clear plastic ornaments with the mixture, adding coats until the ornament is opaque. Carson Downing 2. Honeycomb Ornaments Another popular ornament style—spotted this year at West Elm, Anthropologie, and McGee & Co.—is honeycomb. Typically made from paper, honeycomb ornaments are made from intricate, accordion-style folds that create shapes like stars, bells, and trees. Plus, the ornaments are lightweight, so you don’t have to worry about weighing down the branches of your tree. Add honeycomb ornaments to your Christmas decor this year to put a fun twist on the typical round styles. Choose rich shades of burgundy, forest green, and powder blue, or stick to a neutral palette of beige, cream, and black ornaments for a modern farmhouse effect. When packing away your Christmas decorations for next year, carefully wrap each ornament in tissue paper to ensure paper ornaments don’t get bent. Store the ornaments in a container with dividers so they aren’t damaged throughout the year. 3. Circus Stripes Popular circus stripes are sticking around for the holidays. Expect to see ornaments with thick, bold stripes on trees this year. Home decor stores like H&M, Pottery Barn, and Crate & Barrel offer ornaments with classic red and white candy cane stripes for a traditional. Or opt for funkier color schemes featuring pink, blue, and yellow. Lean into a maximalist aesthetic and pair circus-stripe ornaments with bold patterned bulbs. Incorporate ornaments with different shapes and colors, tinsel, and garland to achieve an over-the-top look. David Land 4. Unique Felt Ornaments Quirky felt ornaments of all shapes and sizes are all over social media and home decor sites alike. Made from colorful felt and stuffed with cotton, these plush ornaments are often embellished with sequins, beads, tassels, and decorative stitching. Letters, wreaths, bells, and other unique shapes can all be found in felt form. Felt ornaments depicting animals in silly scenes are also gaining popularity—think swans wearing tutus, fishing polar bears, and mice on ski lifts. Pair felt animals with brightly colored bulbs in different shapes and sizes. Lean into the whimsy with a homemade paper garland or a string of popcorn to complete your Christmas tree. 5. Photo Frames Show off your favorite photos from the year by using small photo frame ornaments. This Christmas is all about nostalgic traditions and adding personal touches to your holiday decor, so it’s no surprise photo ornaments are having a moment. You can purchase modern photo frame ornaments from stores like Target and Pottery Barn, or choose to craft your own by hand. In a TikTok video, Andrea Pierre shows how to create photo frame ornaments using miniature vintage frames from Amazon. All you need to do is hot glue your favorite photo to the back of a mini frame, then attach a ribbon loop to the back so you can hang it on your tree. Make it a tradition to add a new photo ornament every year, or add fun art prints to the frames that speak to your style.
Top 7 Home Renovation Trends of 2024
Over the past year, homeowners focused on creating environments that nurture well-being, provide comfort and serenity, and reflect their personal values. The home renovation trends of 2024 were all about creating intentional and personalized spaces. Whether it was enhancing the home with wellness features, embracing nature and the simplicity of Japanese-inspired interiors, or crafting spaces for family fun and relaxation, these trends emphasize a shift towards meaningful, mindful living. Drawing on insights from experts at the leading design platforms like Houzz and Pinterest, we reveal how the top trends are shaping the future of home interiors and how homeowners are transforming their living spaces into personalized retreats. Annie Schlechter Organic Modern Style In 2024, organic modern emerged as the design style of choice, seamlessly blending modern simplicity with nature-inspired elements and materials. By incorporating elements like stone, wood, and organic fabrics, organic modernism fosters a calming, cohesive, and well-balanced space. “With searches on Houzz for ‘organic modern bedroom’ jumping nearly 3.5x year-over-year, homeowners may be looking for a soft place to land at the end of a long day,” says Mitchell Parker, senior editor of Houzz. But it’s not just the bedroom where this style shines. Organic modern is also trending across dining rooms, kitchens, bathrooms, and living rooms, underscoring its versatility and widespread appeal. Japanese Design Influence “Japanese design, which embraces simplicity, natural elements, and harmonious living spaces, is experiencing a resurgence, reflected in notable increases in searches related to kitchens, bedrooms, and bathrooms,” Parker says. Searches for ‘Japandi living rooms’ (a fusion of Japanese minimalism and Scandinavian functionality) have risen 48% on Houzz, while Pinterest searches for ‘Japanese living room design’ are up by 135%. Popular Japanese concepts like wabi-sabi and zen gardens also saw notable search growth, suggesting homeowners seek peaceful, sanctuary-like spaces inside and outside their homes. Better Homes & Gardens Leisure Spaces The pursuit of work-life balance is reshaping how we use our homes, with homeowners carving out dedicated leisure spaces. Searches for ‘listening rooms’ have more than doubled on Houzz, and interest in ‘living room pianos’ is up by 39%, reflecting a trend towards creating spaces for music and relaxation. Social areas for group activities have also gained momentum, with searches for ‘bowling alley,’ ‘game room,’ and ‘bocce court’ increasing as well. These areas enable homeowners to enjoy downtime with family and friends, enhancing the home’s role as a haven for entertainment and connection. Wellness Features Wellness remains a priority in home renovations as homeowners strive to create spa-like retreats within their living spaces. Searches for cold plunge pools, indoor saunas, home spas, and steam showers surged on Houzz in 2024, reflecting a growing interest in transforming bathrooms into sanctuaries of relaxation. Shower rooms, which offer an enclosed, intimate space and feature steam and sauna capabilities, are increasingly popular. According to Parker, homeowners are tapping professionals to bring nature indoors in subtle yet impactful ways, such as increasing natural light with large windows and skylights to support wellness and align with circadian rhythms. Ali Harper Dark and Moody Color Palettes Deep paint colors reigned this year, as we saw with many of the 2024 Colors of the Year. Searches for ‘moody living room’ and ‘moody kitchen’ more than doubled on Houzz compared to the year prior, signaling a shift away from light grays and whites. “Designers on Houzz use dark and moody colors to help make spaces feel cozy and intimate or bold and dramatic,” Parker says. According to Pinterest’s Autumn 2024 Trend Report, searches for ‘moody purple bedroom’ and ‘dark green bathroom’ rose by 350%, highlighting these spaces as focal points for exploring more daring, experimental, and personal color preferences. Even ceilings are joining the trend, with searches for ‘dark ceiling’ on Houzz more than doubling, proving that the fifth wall is now a canvas for homeowners looking to make a statement. Kids’ Zones Creating playful, personalized spaces for kids is another trend that took hold in 2024 as parents sought inspiration to cater to their children’s evolving needs. On Houzz, searches spiked for ‘Jack-and-Jill bathrooms’ and ‘teen lounge.’ These searches reflect a desire to design spaces where kids can express themselves and feel a sense of ownership within the home and a forward-thinking approach to home renovation. Cameron Sadeghpour Outdoor Kitchens Dining al fresco took on an entirely new meaning in 2024, with homeowners expanding their outdoor kitchens far beyond the classic grill. According to the 2024 Houzz U.S. Outdoor Trends Study, nearly 9 in 10 homeowners include a grill in their outdoor remodels, but new additions like pizza ovens, smokers, kamado-style barbecues, and Argentinian-style gaucho grills have also become increasingly popular this year. This shift reflects a deeper commitment to alfresco living, with homeowners creating versatile spaces that cater to diverse cooking styles and outdoor gatherings.
Why do we associate red and green with Christmas and is it time to branch out?
As December approaches, red and green take centre stage in shop windows, homes, and festive advertising. The roots of Christmas’s red and green palette are a mix of ancient tradition, nature’s seasonal palette, and a touch of early modern advertising genius. The colours, which sit directly opposite each other on the colour wheel and are therefore complementary, can be traced back to pagan winter festivals, where evergreen holly with its scarlet berries was a symbol of life and resilience, providing a lush green backdrop in an otherwise barren winter landscape. Ancient Romans decorated their homes with these hardy plants during Saturnalia, a festival of feasting and merriment marking the solstice, which later merged with early Christmas celebrations. In Christianity, red took on a sacred symbolism, representing both the blood of Christ and the love that underscored the nativity story. Paintings of the Virgin Mary often depicted her in red robes, a colour that eventually found its way into festive decorations to honour the Christmas season. The combination of red and green endured throughout the centuries, mingling and merging with folklore and spirituality until it felt deeply rooted in the holiday spirit. However, the clinching moment for red and green as Christmas colours was less ethereal and more commercial. In 1931, Coca-Cola’s advertising campaign, featuring a plump, jolly Santa in a vivid red suit (a shade closely aligned with the brand’s own red), solidified the colour pairing in popular culture. Before Coca-Cola, Santa Claus was depicted in a variety of colours, including tan, green, blue, and brown. He was also sometimes drawn in patriotic stars and stripes during the Civil War. The campaign’s success gave red and green a fresh relevance, and – as is the power of commercial advertising and messaging – permanently embedded these colours as the colours of Christmas in the public imagination. Yet, as with many traditions, even the most enduring ones can benefit from a little updating. Besides, red and green are not the globally accepted Christmas colour language: in Norway, purple is much more associated with Christmas (because of its association with royalty, and many associate it with the ‘King of Kings’, Jesus) and in Sweden you’ll find red, white and gold adorning the trees and presents. This year’s interiors often favour palettes far removed from the traditional primary versions of red and green, with colour experts identifying gentle terracottas and biscuit tones as the hues to know right now. Whilst red and green can feel very festive, red in its most primary form has been shown to increase your heart rate and create stress, so it makes sense to move towards something more gentle and calming. But if we’re attempting to slip through the traditional clutches of red and green, what are we moving towards? Teal, aqua and orange ALL RIGHTS RESERVED Offering a fresh take on the traditional Christmas colour scheme, House & Garden ‘s Decoration Editor Rémy Mishon whipped up a wonderfully inventive and whimsical take on the red and green regime, offering shades of teal, aqua and orange as this year’s alternative. After all, if you edge slightly along the colour wheel from green, you’ll find yourself at turquoise. Directly opposite the bluey-green shade is just the kind of burnt orange hues that Rémy recommends. So, despite veering away from tradition, Rémy’s palette still maintains familiarity by keeping it in the family of red and green, as well as ensuring significant contrast between her two main tones. “I had some pictures saved from a Rubelli and Formafantasma collection which looked particularly nice clustered together in my photo library,” explains Rémy, “there were apricots, a light pink, strong oranges and a zingy green which I thought would make a pretty, but off beat base for a scheme.” She then came across The Perfect Nothing Catalogue’s pieces of ordinary household items incrusted in semi-precious stones: “I thought the two were a good marriage with the stones complimenting the scheme whilst also not being too delicate. I added a deep green into the mix to further toughen it up and make it more wintery. I thought the combination had something quite magical and fairytale about it, fitting for Christmas, though maybe more Brothers Grimm than Disney.” Brown and gingerbread Nobody could have predicted quite the scale of brown’s return to favour, both in clothing and interior decoration terms. We’ve seen plenty of glossy brown front doors and stairways that would take well to being adorned with branches, pine cones and other neutral foliage. The oak-panelled walls and large mahogany table in the show-stopping entrance of Ven in Somerset means brown accessories make sense in this environment. The owners used russet-coloured strands of leaves instead of garish tinsel to create a natural, warm palette that fills the room with an opulence that still feels organic. At this former rectory in the West Country, foraged Christmas decorations and salvaged materials enhance the sense of a house that has been made suitable for modern family life, while retaining its Victorian character. At Christmas, the family gathers pine cones and branches of old man’s beard to decorate this room at the front of the house, which has walls painted in Farrow & Ball’s ‘Setting Plaster’, a sandy pink colour that complements browns very well. 1980s maximalist rainbow Paper decorations can make any room feel festive, and don’t reject streamers for being too naff. Bright and cheerful, they’re an
Medicare 2025 plans 5 key changes to Part D, Medicare Advantage costs
Share on Pinterest Big changes to Medicare plans are in store for 2025 as open enrollment is underway. Joe Raedle/Getty Images Medicare is a federal health insurance program for older adults ages 65 and older. Open enrollment for 2025 Medicare plans runs through December 7. Some major changes in 2025 include a new $2,000 out-of-pocket max under Part D, eliminating the plan’s “donut hole” coverage gap, and fewer Medicare Advantage plans. As of January 1st, five big changes will take effect for Medicare — a federal health insurance program for adults ages 65 and older. Every year, senior adults have between October 15th through December 7th to enroll in Medicare or change plans. Part A helps to cover inpatient care in hospitals, skilled nursing facilities, and home health care. Part B is for outpatient coverage, such as diagnosing and treating an illness at the doctor’s office, as well as preventive services, such as vaccines and wellness visits. Part C —also known as the Medicare Advantage plan—is bundled coverage that includes Parts A, B, and sometimes D. Part D provides coverage for prescription medications Medical News Today spoke with three Medicare experts to learn more about the biggest changes coming in 2025 and how they may impact readers. Starting January 1st, there will be fewer Medicare Advantage plans available. “Medicare Advantage Plans are the alternative to receiving their Medicare through Original Medicare,” said Ryan Ramsey, associate director of health coverage and benefits for the National Council on Aging. “These plans are offered by Medicare-approved private companies that must follow rules set by Medicare and provide Medicare Part A (hospital insurance) and Part B (medical insurance) coverage, as well including drug coverage (Part D) in most cases, all under one plan,” Ramsey told MNT. “In most cases, you’ll need to use health care providers who participate in the plan’s network; however, some plans offer non-emergency coverage out-of-network, but typically at a higher cost,” he continued. “These plans may also offer additional extra benefits like vision, dental or fitness and wellness benefits that are not covered by Medicare.” “The number of Medicare Advantage plans that will be available to the average person is expected to decrease by 7%,” Ramsey added. “This may result in less additional benefits being offered, smaller networks within plans, and an increase in overall out-of-pocket costs. However, the number of plans available in 2025 is still in the top three largest since 2010.” Starting on January 1st, a new approach to Medicare Part D will remove the infamous “donut hole” and establish a new hard limit of $2,000 per year for out-of-pocket Part D drug spending. “The Inflation Reduction Act aims to improve Medicare benefits by reducing out-of-pocket costs for prescription drugs,” Kanwar Kelley, MD, JD, co-founder and CEO of Side Health explained to Medical News Today. “This is being done by shrinking the ‘donut hole’ for prescription drug coverage. The ‘donut hole’ refers to the gap between a plan’s initial prescription medication coverage by co-payment or coinsurance and the time when a person meets catastrophic coverage limits where Medicare resumes sharing costs. “While inside of the ‘donut hole,’ an individual must pay for their medications entirely out of pocket. Starting in 2025, the out-of-pocket costs before reaching the catastrophic stage will be capped at $2,000. Until now the limits were set at $8,000. This will mean substantial savings for patients who depend on costly prescription medications.” Another 2025 change impacting Medicare Part D is an anticipated base premium increase. “The Centers for Medicare and Medicaid Services (CMS) has now capped the amount companies are allowed to increase their annual premiums at 6%,” Ramsey noted. “The base beneficiary premium will be $36.78, which is $2.08 more than 2024 and the maximum of a 6% increase.” According to Tim Smolen, Statewide Health Insurance Benefits Advisors (SHIBA) program manager in the Consumer Protection Division of the Washington State Office of the Insurance Commissioner, said the best way to learn more about Part D base premium increases is to use the plan finder tool on the Medicare website. Smolen added: “Broad ranges and base premiums are useful guidelines, but every person’s experience is different. Each person should check their own drugs and pharmacies. It’s possible that each person in a couple might have a different Part D plan.” There will also be a reduction in the number of stand-alone Medicare Part D plans available, according to KFF, a nonprofit focused on health policy. “In 2025, 524 PDPs (Prescription Drug Plans) will be offered across the 34 PDP regions nationwide which is a 26% decrease from 2024,” Ramsey said. “This means that the average beneficiary in each state will have a choice of at least 12 stand-alone drug plans. This could mean a change in formularies, pharmacy networks on plans, and whether your plan has a deductible in 2025.” “There will be a reduction in prescription drug plans under Part D, but this reduction may streamline options in favor of more plans with the built-in price stabilization feature,” Kelley said. “So, though fewer plans will be available, they should be more cost-effective.” And the last big change affecting Medicare in 2025 is an expansion of mental health care and caregiver resources. “Elder care is a huge source of financial burden and stress on families,” Kelley said. “Additional financial support will help reduce that burden and give back time to those looking for caretakers
Struggles with housing shortages affecting B.C.’s small towns
A shortage of affordable housing has led to a growing crisis, and it’s taken shape with a tent city in downtown Sechelt that sprung up in recent years. Catherine Leach thought she would be pushed out of British Columbia’s Sunshine Coast when her landlord decided to sell her home. “I got super lucky that one of the few apartment buildings opened up and I got a suite in that building,” she says. “I would have had to leave the Coast. It was that close. And it’s not just about people having a home to live in. It’s about an affordable home and having homes so that people can actually work here.” Ms. Leach is executive director of the Sunshine Coast Community Services Society, a large 50-year-old multiservices nonprofit that serves a scattered population of 32,000 people along 100 kilometres of coastline. The Sunshine Coast is about a half-hour ferry ride from Horseshoe Bay in West Vancouver, and it’s long been an idyllic draw for residents of Metro Vancouver who want a quieter, less expensive seaside lifestyle. But a shortage of affordable housing has led to a growing crisis in the small community, and it’s taken shape with a tent city in downtown Sechelt that sprung up in recent years. “It’s impacting everybody in every way – that’s how bad it’s become,” she says of B.C.’s housing crisis. Nonprofit workers on the front line know that people aren’t just sleeping in tents or in shelters and living in the rough. There are hidden homeless people living in their cars, in wooded areas, sleeping in boats and on couches, in motel rooms, and even in short-term rentals, because they’ve been squeezed out of the housing market. Low-income groups such as seniors are particularly impacted. Marc White, chair of the Older Persons and Elders Advisory Committee, which advises Vancouver city staff and council, has heard reports of seniors sleeping in the Vancouver airport because it’s safer. “I think it’s all over [the province],” says Dr. White, who is Clinical Assistant Professor with the Department of Family Practice at the University of British Columbia. “Because when you look at 43 per cent of the people on the BC Housing wait list, they are 55 and older, and half of those are experiencing homelessness for the first time as a senior – and that is incredible.” He cites a recent Statistics Canada report that shows B.C.’s hidden homelessness rate was at 17.7 per cent in 2021. People had been asked if they’d ever had to live somewhere temporarily because they had nowhere else to go. Considering the rents B.C. seniors are paying, it’s no wonder. “Right now, based on census data, there are 14,000 [Vancouver] seniors paying more than 30 per cent of their household income on rent in the private market, and 5,100 households spending 50 per cent of their household income on rent,” he says. The Sechelt encampment is located near the Sunshine Coast’s only year-round homeless shelter and a transitional housing project with health and social services. There aren’t enough beds or services, so the community is pulling together. The Sunshine Coast Community Services Society is soon breaking ground on a striking new housing project by lead architect Jesse Garlick of Studio 531 Architecture. Part of the inspiration behind the U-shaped design, says Ms. Leach, was to create an inward sense of safety. The building will include 35 units of housing for single women and women with children, in response to the statistic that 59 per cent of the Coast’s children are living with a single parent who is living below the poverty line. Ms. Leach says the project, in partnership with BC Housing, is six years in the making. As executive director of Kitsilano Neighbourhood House, she was also involved in that redevelopment, and she learned that support for vulnerable people starts in their own communities. “If there was any wish for me – and the government knows this, everybody knows this: fund projects that are more complex that are actually going to affect change. Like, don’t continue to just put very targeted, particularly very vulnerable people all jammed together in one location and walk away. Don’t do that any more.” Their crisis is an extension of the Vancouver crisis, but they don’t have the same resources to address it, says Kelly Foley, Sunshine Coast regional housing co-ordinator for Cover the Coast, a local affordable housing society. She co-authored a 2023 assessment needs report that shows crime, particularly violent crime, increased between 2016 and 2021, with a major spike in violent crime in 2020. “Because we are such a bedroom community to Vancouver, the cost of housing in Vancouver has certainly had an impact here,” says Ms. Foley. “You combine that with older adults moving here and we are in a tough situation, because we have a lack of working-age adults that can’t afford to live in our community, and who could help support those people.” Half the population of the Coast is older than 55, and about one-third are over 65, she says. As well, the average household income is lower than the B.C. average. People are fearful of the sudden changes they are seeing, particularly in downtown Sechelt, says Ms. Foley, who has met with residents of the encampment. “What I’m hearing is that there are people who are living in tents, who are very vulnerable, and also there’s
Since its first condo in 1970 Vancouver has become the poster city for a global phenomenon
Douglas Todd: Condominiums now make up 30 per cent of homes across Metro Vancouver, the highest proportion in North America. Hundreds of millions more have been recently built in Japan, China and other nations. Get the latest from Douglas Todd straight to your inbox Published Nov 15, 2024 • Last updated 2 hours ago • 5 minute read Mikal Mityok stands outside Balsam House, Vancouver’s original condo complex. It was built in the quiet Kerrisdale neighbourhood in 1970. Photo by Douglas Todd The city of Vancouver’s first condominium complex is a modest, pleasant-looking six-storey building. Built in 1970 at 5350 Balsam, it continues to provide 24 units on a quiet, leafy street in the Kerrisdale neighbourhood. You could say it’s a historic site. Balsam House, as it’s known, marks the dawn of Vancouver’s remarkable condo revolution, which has gone on to change the face of many of the world’s major cities. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Vancouver Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Vancouver Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Sign In or Create an Account or Article content Balsam House is the prototype for a strata property scheme that now governs 33 per cent of all housing units in the city of Vancouver, as well 30 per cent of those across Metro Vancouver. That’s the highest ratio of any North American urban region, making Vancouver the poster city for condos. Vancouver-style condo mania is global. The world’s highest building, the 828-metre Burj Khallifa in Dubai, United Arab Emirates, is in large part a residential condominium complex. And no longer is New York City characterized mostly by commercial office towers like the Empire State Building. The megalopolis’s most notable landmarks are now pencil-thin glass condominium skyscrapers on so-called Billionaires Row, such as the Steinway Tower and 98-storey Central Park Tower. The condominium model, also known as strata ownership, has provided the basis for the swelling of Vancouver, Toronto and many other cities since the Second World War, according to Douglas Harris, a University of B.C. property law professor who cheerfully acknowledges he has a fixation with the phenomenon. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Article content Article content It’s “one of the defining institutions of our time,” said Harris, who describes the condominium structure as technically “a form of land ownership that combines private ownership of an individual unit in a multi-unit building with a share of the common property… and a right to participate in collective governance.” Harris persuasively argues the novel legal structure has changed the face of home ownership. “The numbers are staggering.” Among other things, “condofication” has inaugurated a global shift to much more dense urban living, he says, which has greatly inflated land prices. Condominiums, Harris says, have also generated a “massive” transnational movement of wealth and people into cities, inaugurated a heightened level of real estate capitalism and, in effect, created a new form of private governance. The sun sets on Central Park Tower and the Steinway Tower on Billionaires’ Row in New York City, making these residential condominium projects more notable landmarks than the city’s commercial office towers, like The Empire State Building. Photo by Gary Hershorn /Getty Images Michael Mityok, interviewed as he emerged from his 800-square-foot condominium unit in Vancouver Balsam House, was largely unaware of the historical importance of the place he has lived for seven years. Mityok simply expressed contentment with his condo complex, with its mature strata council members and sound-muffling concrete construction. “It was actually built properly,” he says, unlike many that followed, resulting in — among other things — the city’s notorious leaky condo crisis. Article content Mityok also enjoys his ethnically mixed Kerrisdale neighbourhood, in which nearby condo projects built decades ago, in contrast to those constructed today, come with expansive gardens. He estimates the two-bedroom unit he bought for $700,000 is now worth just under $800,000. That price tag is nothing compared to the many glamorous newer
National home sales surge in October
The Canadian Real Estate Association says the number of homes sold in October rose 30 per cent compared with a year ago, marking a shift from the market’s holding pattern. On a seasonally adjusted month-over-month basis, national home sales rose 7. The Canadian Real Estate Association says the number of homes sold in October rose 30 per cent compared with a year ago, marking a shift from the market’s holding pattern. On a seasonally adjusted month-over-month basis, national home sales rose 7.7 per cent from September, as 44,041 residential properties changed hands last month across Canada. The association said rising home sales activity was broad based, with the Greater Toronto Area and British Columbia’s Lower Mainland recording double-digit increases in October. CREA senior economist Shaun Cathcart called the jump in sales a “surprise,” even as the Bank of Canada continues to lower its key interest rate. The central bank has lowered its key interest rate four times since June, including a half-percentage point cut on Oct. 23. The rate now stands at 3.75 per cent, down from the high of five per cent that deterred many would-be buyers from the housing market. Jason Ralph, broker of record for Royal LePage Team Realty in Ottawa, said activity often picks up in the fall, but surpassed his expectations last month. Still, he said the market rebound seems to be happening gradually, rather than all at once. He attributed that trend to the Bank of Canada’s messaging surrounding its rate cut cycle. “There’s not going to be this massive rush to the market like we saw in the pandemic. That was an anomaly,” said Ralph. “The 50-basis-point drop was enough to push some people on the sidelines into the market where they found it enticing enough to jump in, but it wasn’t that massive wave that everybody’s waiting on because the messaging is, ‘We’re lowering it and we’re likely going to lower it again.'” Cathcart said the sales increase last month was more likely related to the surge in new listings that hit the market in September. That month saw a 4.8 per cent increase in new homes on the market, pushing supply to some of the highest levels seen since mid-2022. “There probably won’t be another rush of new supply like that until next spring, and at that point, mortgage rates should be close to their expected lows, as well,” said Cathcart in a press release. “With that in mind, you can think of the October numbers as a sort of preview for what we might expect to see next year.” CREA chair James Mabey added that October’s strong sales numbers “suggest buyers have been in the market since rates began to fall in early summer, but they were waiting for the right property to come up for sale, which didn’t happen in a big way until September.” “The extent to which that will be able to continue between now and next spring will depend on the number of listings coming onto the market,” he said. In October, the number of newly listed properties was down 3.5 per cent month-over-month. The association said the national pullback was led by a drop in new supply in Greater Toronto. There were 174,458 properties listed for sale across the country at the end of the month, up 11.4 per cent from a year earlier but still below historical averages for that time of year. The national average sale price for October amounted to $696,166, up six per cent compared with a year earlier. Ralph said that with property prices expected to increase amid more demand, would-be sellers are growing more confident to list, while potential buyers are feeling more comfortable paying current prices. “Buyers have been sort of going, ‘Well, where’s my deal?’ And sellers have been going, ‘Well, I still want my price.’ So we’ve been having a little bit of a game between buyers and sellers,” he said. “I think we’re seeing a little bit more movement as people understand that as rates come down, prices are steady and probably going to go back up.” BMO senior economist Robert Kavcic said the sales figures show Canada’s housing market “is finding some life.” “Sales volumes have bounced from last year’s lows, prices have stabilized across many regions and outright buyers’ markets are disappearing,” he said in a note. “To be fair, last October and November were very soft after accounting for seasonality, but it’s clear that activity has risen with more selection and lower borrowing costs. Price reductions across some segments have also allowed the market to clear better as the ‘bid-ask’ spread narrows.” This report by The Canadian Press was first published Nov. 15, 2024. Sammy Hudes, The Canadian Press
Is your mortgage more restrictive than you know?
Collateral-charge mortgages might have a bad rep in some quarters but they are not inherently bad products. But many people aren’t aware of what they’ve signed up for. In today’s uncertain interest-rate environment, homeowners want the option to make a change to their mortgage and shop around for the best terms and rates, especially at renewal time. With economists expecting several more central bank rate cuts, and 60 per cent of all outstanding mortgages coming up for renewal over the next two years, mortgage pricing in Canada is poised to get even more competitive as banks look to lure clients from their existing lenders. But when shopping around, one product homeowners might want to steer clear of is a collateral-charge mortgage, which comes with restrictions around switching, whether at renewal or any other time. A collateral-charge mortgage, also known as a readvanceable mortgage, is a type of loan that essentially bundles together your mortgage and a line of credit, based on the amount of your home equity. When a lender registers this type of mortgage, they’ll do so for an amount up to 125 per cent of the home’s assessed value. That extra amount then gives the borrower the ability to tap into their home’s equity either right away, if they’ve made more than a 20 per cent down payment, or as it grows over time – without having to apply and take on a separate borrowing vehicle such as the popular home equity line of credit (HELOC). With a regular mortgage, the lender registers only the amount that the home is worth, minus the down payment made by the borrower. Collateral mortgages are offered by Canada’s biggest lenders. In fact, many Canadians may be surprised to learn that some big banks – such as TD and Tangerine – only offer collateral-charge mortgages. Based on TD’s enormous market share alone, with $266.4-billion in residential mortgages as of the second quarter of 2024, there’s a significant number of borrowers out there with one. But the big downside of a collateral-charge mortgage is that they can’t be transferred to a new lender like a conventional mortgage – the mortgage must be fully discharged first, meaning the current lender has legally taken it off its books. Most banks won’t do this unless the mortgage has been paid off in full, so the borrower will need a lawyer – and pay additional fees in the ballpark of $2,000 – to break the contract. Sometimes a new lender will cover these costs for the borrower, but that’s not guaranteed. Over all, it adds another layer of complexity and cost for someone looking to make a switch. The other risk that comes with a collateral-charge mortgage is that it can make it hard to access other types of financing, such as a second mortgage or HELOC, from other banks. This is because more than 100 per cent of the borrower’s home – typically their largest asset – is already tied up in their mortgage with no financial wiggle room. Not having these options can come as a shock for someone who didn’t realize they were in this type of mortgage to begin with. Collateral-charge mortgages might have a bad rep in some quarters but they are not inherently bad products. They provide borrowers who want to access their equity with a streamlined, cheaper way to do so. This money can be used for anything – renovations, buying a car or paying for school, for example. But borrowers should be aware and accept the associated risks and restrictions and too often, what we’ve experienced when working with brokerage clients is that they are not. Unfortunately, it’s the mortgage shoppers who are most motivated by the best rate or get a big bank mortgage that may unknowingly end up in a collateral mortgage and restricting their options. In today’s volatile rate environment, that’s an oversight few of us can afford. Penelope Graham is the director of content at Ratehub.ca .
Immigration cuts will help housing gap
OTTAWA — The federal government is overestimating the impact its cuts to immigration will have on the country’s housing shortage, the Office of the Parliamentary Budget Officer said in a new report. OTTAWA — The federal government is overestimating the impact its cuts to immigration will have on the country’s housing shortage, the Office of the Parliamentary Budget Officer said in a new report. In the analysis published Friday, the PBO said its projections still indicate the country’s housing gap should fall by 45 per cent, assuming the Liberal government’s own population projections in its immigration plan are accurate. The PBO isn’t entirely convinced they are, saying “we judge that there is significant risk” to the demographic projections the government made in its 2025-27 immigration levels plan. The PBO cautioned its model assumed some non-permanent residents, whose permits or visas would expire and not be renewed under the new plan, will actually leave the country. “Both our estimated reduction in household formation and the housing gap under the (immigration levels plan) are uncertain and likely represent upper-bound estimates,” the PBO warned. In October, the Liberal government announced it was cutting the number of permanent residents allowed into the country over the next three years. The plan expects to see Canada’s population decline by 0.2 per cent in 2025 and 2026, marking the first time Canada would see an annual decline in population, the PBO said. The PBO now estimates Canada needs to build another 1.2 million homes by 2030 to close the housing gap. In its report Friday morning, the PBO said the revised immigration plan will reduce that gap by 534,000 units — or 45 per cent — by 2030. The government’s projections, factoring in its new immigration targets, suggested the population estimates would reduce demand for housing by 670,000 units by 2027, well above the PBO’s estimates and three years earlier than the PBO’s timeline. “This difference likely reflects several factors, such as the assumed age, region and household structure of the (non-permanent resident) outflows projected under the (immigration levels plan), as well as the time horizon and counterfactual population projection,” the PBO wrote. In a statement, Immigration Minister Marc Miller’s office said the PBO report confirms the government’s immigration levels plan will reduce the housing supply gap, and that the report’s projections are in line with the department’s own expectations regarding the housing supply gap for this year. “While an adjustment in immigration levels is helping to reduce the strain on our housing supply, it is also true that immigration and newcomers to Canada will continue to have an important role to play in helping us grow the housing supply,” Miller’s office said. “Immigrants are not to blame for the housing crisis and they, like everyone who lives in Canada whether temporarily or permanently, deserve to be set up for success while they are.” This report by The Canadian Press was first published Nov. 15, 2024. Nick Murray, The Canadian Press
Home prices decreasing in B.C.s ski regions
Interest rates, capital gains taxes and short-term rental measures are some factors in province’s recreational property transactions Prices of detached homes and condominiums have registered slight decreases in B.C.’s popular ski regions so far this year. However, they are expected to increase in 2025 as interest rates continue their expected decline. In the first nine months of the year, the median price of a single-family detached home in the province’s ski regions decreased 2.6 per cent year-over-year to $1,729,200, according to the 2024 Winter Recreational Property Report by Royal LePage Real Estate Services Ltd. Meanwhile, the median price of a condominium also decreased 2.6 per cent to $477,500. Royal LePage examined several B.C. ski regions including Whistler, Invermere, Revelstoke, Mount Washington, Sun Peaks and Big White. The Nov. 14 report noted that less snowfall has impacted some resort areas, although this is made up for during biking and golfing seasons. The report also noted that provincial measures regarding short-term rentals, which affect some ski regions, have resulted in more personal and family use of properties. The foreign-buyer ban similarly exempts some communities, also resulting in a varied impact. Interest rates and capital gains taxes have played a significant role in these markets, according to the report. Many buyers are waiting to jump in as they anticipate further reductions in the key interest rate, which has been reduced incrementally from five per cent in April to 3.75 per cent last month. Meanwhile, this year’s federal budget increased the basic inclusion rate for all capital gains and losses from one-half to two-thirds as of June 25, spurring a surge in transactions prior to the deadline. Some markets are attracting buyers from elsewhere in Western Canada, as they may be located closer to Alberta. Some had more inventory and transaction volume than others, while the accessibility of price points varied by market. In Whistler, for example, a house or condominium slope-side or at mountain base typically start at $3 million and $500,000, respectively. Among the report’s highlights: Whistler – The median price of a single-family detached home in Whistler’s recreational property market for the first nine months of the year decreased three per cent year-over-year to $3,569,100, while the median price of a condominium decreased 12.4 per cent to $583,600. Prices are expected to rise nine per cent over the next 12 months. Invermere – The median price of a single-family detached home in Invermere’s recreational property market for the first nine months of the year increased 13.5 per cent year-over-year to $749,000, while the median price of a condominium increased 11.4 per cent to $344,900. Prices are expected to rise 10 per cent over the next 12 months. Revelstoke – The median price of a single-family detached home in Revelstoke’s recreational property market for the first nine months of the year increased 4.9 per cent year-over-year to $862,500, while the median price of a condominium increased 14.3 per cent to $802,000. Prices are expected to rise five per cent over the next 12 months. Mount Washington – The median price of a single-family detached home in Mount Washington’s recreational property market for the first nine months of the year increased 29.4 per cent year-over-year to $1,100,000, while the median price of a condominium decreased 1.1 per cent to $455,000. Prices are expected to rise two per cent over the next 12 months. Sun Peaks – The median price of a single-family detached home in Sun Peaks’ recreational property market for the first nine months of the year decreased 30.1 per cent year-over-year to $1,337,500, while the median price of a condominium decreased 14.3 per cent to $360,000. Prices are expected to increase five per cent over the next 12 months. Big White – The median price of a single-family detached home in Big White’s recreational property market for the first nine months of the year decreased 13.7 per cent year-over-year to $1,510,000, while the median price of a condominium decreased 22.1 per cent to $413,000. Prices are expected to increase five per cent over the next 12 months. Royal LePage compiled insights, data and forecasts from 18 popular ski regions. Median price and sales data was compiled and analyzed by Royal LePage for the periods between Jan. 1, 2024 and Sept. 30, 2024 and Jan. 1, 2023 and Sept. 30, 2023. Data was sourced through local brokerages and boards in each of the surveyed regions. [email protected] @JamiMakan
Vancouver Cake Challenge
Welcome to the Vancouver Foodster Cake Challenge. Restaurants, bakeries and cafes from all over the city were invited to enter their Cake creations into this challenge. Each cafe and bakery will be featuring their cake creations on their menu from November 15-December 8, 2024. How Does this all Work? For the public challenge, you are invited to go out and order any or all of the cake creations in this challenge, then you decide who you think has the best cake creation for the People’s Choice award winners. Share your experiences: Tweet (and don’t forget to tweet or instagram your photos) throughout the challenge, our twitter and instagram address is @vanfoodster and the hashtag is #CakeChallengeYVR please include this hashtag in all your tweets during the challenge. Voting criteria – some things to help you judge your favourite cake creations – keep these things in mind: originality, creativity, uniqueness, traditional, non-traditional, price, value and most importantly taste. How to VOTE : Look for our Cake challenge posters in each of the participating bakeries and cafes. Scan the QR code and Vote for your favourites from November 15 – December 8, 2024 Get some friends together, visit 2 places or more to taste the different Cake creations or go solo or with a friend– just remember to VOTE for your favourites between November 15 – December 8, 2024. Here are the Cake creations in this challenge, listed in no particular order other than when they were received by us. Yudi Patisserie Saitama Hojicha Chiffon cake Price: slice: $9.5; 5.6″: $38; 6.5″: $58 Created by: the team Description: This is a delicious cake that originated from Sitama, Japan. The cake is very soft, airy and delicate. The cream has a strong fragrance of hojicha tea. It can be decorated with/without nuts. Available in slices and whole cakes (5.6″ or 6.5″) Ingredients: milk, oil, vanilla paste, whipping cream, cream cheese, baking powder, flour, eggs, sugar, hojicha tea, nuts & chocolate (optional decoration only). Available: all the time Offered: preorder: contact the store 1 day in advance. Delivery option: Available on Fantuan/ Uber Eats at higher prices. Yudi Patisserie 8580 Alexandra Road, unit 1195, Richmond Tel: 604-370-0777 Web: https://www.instagram.com/patisserieyudi Instagram @patisserieyudi Trees Cheesecake + Organic Coffee Ferrero Rocher Cheesecake Price: Slice: $9.95 or 6-Inch: $42 Created by: The Ferrero Rocher Cheesecake was created by our Trees Kitchen Staff a few years ago. However, the latest version has been expertly crafted under the leadership of our kitchen manager, Nancy Lin Wang. Description: Baked daily in our kitchen, Ferrero Rocher is back and better than ever! We’ve worked tirelessly to enhance the flavour of our beloved creation, and we’re proud to announce that we’ve elevated this cheesecake to new heights. This year, we will combine premium cream cheese with the signature flavour of Nutella. But that’s not all: every slice will be adorned with a whole Ferrero Rocher chocolate, nestled on a new base of chocolate whipped cream and sprinkled with gold flakes! For chocolate lovers, our improved blend of hazelnut paste and crushed hazelnuts ensures the perfect texture and rich taste that makes this cheesecake genuinely extraordinary. Ingredients: Cream Cheese, Vanilla Paste, Eggs, Hazelnut Paste, Nutella, Crushed Hazelnut, Gold Flakes, Whipping Cream. Offered: all the time Delivery: Doordash. Preorder and takeout: Anybody can call directly to our stores to order the cheesecake. Trees Cheesecake + Organic Coffee 450 Granville Street Phone (604) 684-5022 255 E.Broadway (Mount Pleasant) Phone: 604-695-9639 5078 Joyce St Phone: 604-895-4211 10299 University Dr #104, Surrey Phone: 604-496-1714 Web: https://treescoffee.com Instagram: @treescoffee Just Cakes Bakeshop Biscoff Mousse Cake Price: $7.50 Created by: the team Description: Brown sugar cake layered with biscoff mousse and a brown sugar whipped cheesecake; topped with a biscoff montee, chocolate pearls, biscoff cookie pieces, and a biscoff drip. Ingredients: Biscoff montee, chocolate pearls, biscoff cookie pieces, and a biscoff drip. Just Cakes Bakeshop #5-7548 120 Street, Surrey Tel: 604 503 5577 Web: https://www.justcakesbc.com/ Instagram @justcakesbakeshop And Just Cakes Bakeshop 17767 64 Ave Unit #103, Cloverdale Tel: Instagram @justcakesbakeshop Our Media judges for this challenge are: Corey Lee Instagrammer and Influencer Instagram @sweettoothguy tiktok @sweettoothguyishere Jay Minter Writer of food and the arts for On The List, Vancouver Presents and other publications. Instagram @jminter Joyce Lam Food Blogger for her own Vanfoodies Instagram: @vanfoodies TikTok @vanfoodies
North Vancouver’s FREE Shipyards ice skating returns this month
One of our favourite Metro Vancouver outdoor rinks will soon return for a new winter season. The City of North Vancouver’s free Shipyards Skate Plaza is welcoming skaters starting on Saturday, November 30. Until March 2025, skaters of all ages can glide on the approximately 12,000 sq ft surface daily from noon to 8 pm. And fun can be had no matter the weather – the Shipyards Skate Plaza is covered by a retractable roof. City of North Vancouver Skaters can either bring their own skates or rent a pair onsite, although quantities are limited. Helmets and skating aids are free, with the former being mandatory for skaters under the age of 12. Figure skating and hockey are not permitted at the rink. Skaters are also encouraged to avoid crowds during peak hours, which are weekday evenings and weekends. The Skate Plaza’s rink capacity is 300 skaters, and ice time is available on a first-come, first-served basis. City of North Vancouver The Skate Plaza will be closed twice daily for maintenance at 3 and 5:30 pm for 30 minutes. And for more seasonal fun, head down to The Shipyards Christmas Market launching on November 29 and running through to December 24. With dozens of artisan stalls, food vendors, and live performers, as well as visits with Santa, and more, it is shaping up to be everything we’ve asked for on our wish list. Skate Plaza at The Shipyards When: November 30, 2024 until March 2025 Time: Noon to 8 pm Where: The Shipyards Commons, North Vancouver Admission: FREE. Skate rentals are available for $7 for adults and $5 for children (quantities are limited)
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