The home of the week is a cabin in the woods that feels like a private summer camp.Next Door Photos
This week: A canary in the coal mine for homeowners, and three cities where home prices are changing fast. Plus, why more couples are choosing to pay more to live apart, and one property worth a look.
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Under pressureMore homeowners are filing for insolvency – and fast
Worried about how you’re going to pay your mortgage, or rent, food and transport? You’re far from alone. The number of Canadians filing for insolvency jumped 8.5 per cent in the first quarter of 2026 compared to last year, according to the latest data from the Office of the Superintendent of Bankruptcy. It’s the highest quarterly volume since 2009 and though the per-capita rate is still lower, the pace is the concerning part, Zarif Sinha and Mariya Postelnyak report. “Despite the scary 2009 figure, things are not quite as grim as the crisis then, but there are signs of trouble,” Zarif told me.
One signal is the growing proportion of insolvencies filed by homeowners, according to data from Hoyes Michalos & Associates. Renters account for the bulk of insolvencies and homeowners’ share “had been steadily declining since 2014, as rising property values meant mortgage-holders likely had other refinancing options renters did not,” Zarif told me. Since the pandemic, however, insolvency filings by homeowners have been on the uptick thanks to mortgages coming up for renewal at much higher rates, job losses and economic uncertainty from the U.S. trade dispute.
Falling home prices are also a double-whammy for insolvent mortgage-holders. Doug Hoyes, a licensed insolvency trustee, says more of his clients are finding themselves liable for the shortfall between the purchase price and newly appraised price when they file. And with warnings of potential higher interest rates ahead, he “can’t imagine how insolvency numbers are going to fall anytime soon.” Read the full story here.
Un-shacking upLiving apart can bring couples even closer together – if they can afford itOpen this photo in gallery:
Living apart can be great for some couples, but it’s not cheap.Illustration by Sam Island
It turns out home may not always be where the heart is. More couples are shirking societal pressures and opting not to live together, keeping up their commitment to romance without being roommates. Roughly one in 10 couples in Canada are in some sort of “living apart together” (LAT) arrangement, according to a 2024 report from the Vanier Institute of the Family, reflecting broader changes in how we define family, intimacy and independence.
But money is also a big part of the equation, especially when high housing prices mean many couples can’t afford not to live together. As Sadaf Ahsan heard from LAT couples, their arrangements take financial sacrifices. “In order to afford living solo, they’d spent a number of years saving up (also, hello, rent control!), live relatively frugally, and stick to a budget,” Sadaf told me. “It makes me think more people would live on their own if it were more affordable.”
Living separately from a long-time partner is a prospect that appeals to Sadaf herself, despite skepticism from her friends and family. Reporting the story, she was encouraged by LAT couples telling her the benefits were worth the cost. “After all, money is the one reason I sometimes do find myself wondering – briefly! – if it might just be worth sharing my space” Sadaf told me. “But at the end of the day, having my own little utopia is priceless and, therefore, a financial priority.” Read the full piece here.
This week’s lowest fixed and variable mortgage rates in Canada
Rates shown are the lowest available for each term/type and category (insured vs. uninsured) as of market close on Thursday, May 14.
DataThree cities where home prices are changing fast
Here’s some good news if you’re thinking of buying your first home: home values are cooling off despite the usual spring thaw. Canada’s average home price dropped by 4 per cent year-over-year in April, according to data from from Wahi, a digital real estate platform, and Real Property Solutions, a property valuation service. No city has it worse than Hamilton, where average home prices dropped by 9 per cent, and Toronto isn’t far behind at 8 per cent.
But it’s not just a tale of two cities. Salmaan Farooqui took a closer look at the notable changes in three places – Calgary, Hamilton and Winnipeg – and the Manitoba capital’s modest 2 per cent increase might surprise you. “If Toronto and Vancouver get sick, we just catch a cough,” realtor Michael Froese told Salmaan.
It’s a sign of significant resilience, especially as other markets in the Prairies haven’t been so lucky. So if you’re thinking of dipping your toes into the market anywhere in the country this season, read the city-by-city analysis to take a pulse first.
Design corner
The seven best homes and interiors to inspire your next project
An artist’s lofty atelier is just one of Canada’s best spaces that’s bound to inspire.doublespace photography/Supplied
How do you craft a space that both reflects and supports your passion? The artists and creatives in Style Magazine’s annual round-up of Canada’s best architecture and design have figured it out – and they have advice to share.
From a minimalist writing cabin in the woods to a light-filled studio and a Toronto hobby house that turns the traditional floor plan on its head, here are the best homes, cottages and rooms across the country. Take a peek and you’re bound to find some inspiration, no matter what your pursuit may be.
Home of the WeekA riverfront log cabin in the woods outside OttawaOpen this photo in gallery:
The three-season sunroom is the family’s most-used space, and the perfect place for your morning coffee.Next Door Photos
509 Iron Mine Rd. S., Lanark Highlands, Ont. – Full gallery here
While Little Red Riding Hood made the dangers of venturing into the woods to visit Grandma all too clear, those who stumble upon this rustic timber home nestled in the forest are in for a pleasant surprise (not of the wolf variety). Built in the 1980s from the frame of a 19th-century barn, the dwelling could easily be taken for a hunting lodge or forest-service building at first glance. But inside, it is a cozy and inviting rural getaway that has become a weekend destination for the owners’ family.
The four-bedroom home is designed to enjoy the woodland surroundings almost all year, with a wrap-around porch that connects to a three-season sunroom filled with rockers and hammocks. It sits on five acres and has a 350-foot private riverfront along the “Mississippi River,” a tributary of the Ottawa River, where the owners’ children and grandchildren love to swim and float home from a launching spot up the road.
The peaceful surroundings permeate the interior, too. Wide-plank oak floors run throughout the large dining room and living areas, which is warmed by a fireplace in the cooler months. Exposed log walls and beams frame the two-storey home and dormers upstairs, creating the feel of a summer camp with the comforts of power and plumbing. And while the whole house is special, the owners’ son-in-law says the sunroom is the place to be so long as it’s not the dead of winter. “[You] can constantly hear the rush of the water, of the river. You sit out there, have a coffee and let the sun hit you,” said Lee Tamburano.
What do you think is the asking price for the property?
a. $829,000
b. $889,000
c. $939,000
d. $979,000
a. The asking price is $829,000.