From missing family time to making food, Canadians are cutting back amid inflation
Former Olympic wrestler Colin Daynes and his partner, mixed martial arts fighter Lupita Godinez, describe paying eight per cent interest on the mortgage for their new condo as “a real kick in the face.”
Daynes said they both earn “good money” and they’re putting at least $200,000 down on a $525,000 condo, so thought it wouldn’t take long to secure financing.After two months without success, he said they switched brokers and ended up securing a mortgage through a non-bank lender at 7.99 per cent. He said Godinez’s income from fighting doesn’t follow a typical weekly schedule, which may have been an issue for some lenders.
But the international student, who has been living in Montreal for the past four years, said the costs are too high for her to justify the travel this year. Jourdain said she knows a number of other international students opting to not go home this holiday season because of the pricey plane tickets and overall increased cost of living.
Subramanyam said Toronto was more expensive than Brisbane to begin with and expenses rose further over the past year, with the cost of dairy products a particular blow for her mostly vegetarian household.She said they’ve come to terms with “the fact that everything is expensive here, starting with kids clothes.”
When Craig Fisher moved to Montreal in August 2021 after living in Winnipeg for a decade, he was eager to make regular visits to family in London, Ont.
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