Hi folks and happy 2026! Let’s discuss an issue that could very easily be corrected in Canada to support our home owners and especially our seniors 
The Structural Risk to Canadian Homeownership
Canada’s housing system quietly exposes homeowners, and especially retirees, to ongoing risk even after decades of home ownership. Short mortgage terms force repeated renewals at market rates, transferring interest-rate risk from banks to households. At the same time, property taxes operate as a perpetual senior lien that never ends, even on mortgage-free homes. Together, these mechanisms mean a Canadian home is never truly paid off in the sense of being secure from forced sale.
Why This Is Unusual Internationally
Most developed countries offer long-term or full-term fixed mortgages that lock in housing costs for decades and shield households from rate shocks. Many also limit property tax growth, defer taxes for seniors, or link taxation to income rather than market value. Canada stands out for combining frequent mortgage repricing with uncapped, value-based property taxation, creating a system where rising asset values increase cash obligations precisely when income often falls.
The Retirement Vulnerability
The risk intensifies in retirement. Income declines while property taxes, insurance, and maintenance rise. Mortgage balances may persist due to late purchases, refinancing, divorce, or helping children. A homeowner can be asset-rich but cash poor, with no practical option other than selling. This is not a failure of planning but a predictable outcome of the system’s design.
Why the Problem Persists
Responsibility is fragmented: the federal government regulates mortgages, provinces control property law, and municipalities rely on property taxes. The harm appears slowly and individually, not as a sudden crisis, so it escapes political urgency. Public frustration is often misdirected toward secondary issues rather than the underlying financing and taxation structure.
Recommended Mortgage Reforms
Canada should require lenders to offer long-term fixed mortgages that transfer interest-rate risk back to financial institutions. Mortgage renewal stress tests should be eliminated for older borrowers who are current and reducing principal. These changes would dramatically reduce forced sales caused by rate volatility rather than inability to pay.
Recommended Property Tax Reforms
Automatic property tax deferral should be available to seniors, with taxes settled upon sale or estate transfer. Annual assessment increases on primary residences should be capped, and a basic value exemption should apply to owner-occupied homes. These measures preserve municipal revenue while aligning tax obligations with actual cash capacity.
Restoring Housing Security
Home ownership should provide stability, not lifelong financial exposure. Without reform, Canadians do not truly own their homes—they rent them from the tax and credit system indefinitely. Modest structural changes could preserve public revenues and financial stability while finally converting ownership into genuine housing security.
DGB
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