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Tag: renter

  • Half a house, half a million: A tree-crushed home hits the market in Monrovia

    Half a house, half a million: A tree-crushed home hits the market in Monrovia

    A few months after being toppled by a towering pine tree, a Monrovia home — or what’s left of it — is up for grabs for $499,999.

    The humble bungalow made headlines when it was crushed by a tree in May with two renters and two dogs inside. None were injured, but the tree took out their car, a fence and most of the roof.

    What’s left of the property looks like a postapocalyptic set piece complete with missing walls, loose wires and no ceilings. Some would call it unsalvageable; listing agent Kevin Wheeler quipped that it’s an “open-concept floor plan.”

    According to the listing, the home holds one bedroom and one bathroom in 645 square feet, but those are based on measurements taken before it was destroyed. Wheeler said the electricity is turned off, but the plumbing still works.

    The back door, which the renters escaped through after the tree came down, still stands.

    Monrovia rules state that demolitions on properties more than 50 years old require a review. But since the house was destroyed by an act of God, a review isn’t required, according to Wheeler. So house-hunters can buy what’s left of the home and fix it up without dealing with some of the red tape typically required during rebuilds.

    “There’s been a lot of interest so far because demand is so high and inventory, especially at this price, is so low,” Wheeler said.

    He added that multiple people tracked down the homeowner with low-ball offers to buy the home days after it was crushed.

    “They were trying to buy it for $250,000 or $300,000,” he said. “But market comparisons for similar properties in Monrovia put the value at $500,000.”

    Jack Flemming

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  • Is the eviction of hundreds of renters from Barrington Plaza legal? A court case to decide is now underway.

    Is the eviction of hundreds of renters from Barrington Plaza legal? A court case to decide is now underway.

    Nearly a year ago, every tenant at the massive Westside apartment complex Barrington Plaza was served with an eviction notice by their landlord, who said the residents of nearly 600 units needed to move out so the company could install fire sprinklers following two major blazes.

    In the months since, most of the tenants have left. But more than 100 stayed behind, vowing to fight in court for the right to stay in their rent-controlled units, suspecting that the owner’s real intent was to upgrade the complex and re-rent the units at market rate.

    On Wednesday, their day in court finally came as lawyers for the tenants and the owner, Douglas Emmett Inc., presented opening arguments in a civil case that will decide whether the evictions are legal. The tenants and their advocates see the case as an important test of renter protections in a city faced with an affordable housing crisis.

    “I wanted to make sure I’m represented in this fight for tenants in Los Angeles,” said Barrington tenant Chuck Martinez, who has lived in the building since 2021. “To lose this affordable housing is a step backward for L.A.”

    For the owner, the case at the Santa Monica Courthouse is about landlords having the legal right to choose not to continue renting their units. “Inside the courtroom, this is a case about upholding the law,” said John Samuel Gibson, attorney for Douglas Emmett.

    The company wants to evict the residents under the Ellis Act, which allows landlords to evict rent-stabilized tenants to remove units from the rental market — for instance, to build condos.

    The heart of the case revolves around whether the company truly intended to take the units off the rental market and whether the law requires them to do so permanently.

    Frances M. Campbell, the tenant’s attorney, said evidence presented during the trial would show that the company for years had plans to “transform and upgrade” the complex and to re-rent the apartments “at a new market rate.”

    Campbell said the law requires owners who invoke the Ellis Act to remove the units permanently from the rental market.

    “Defendants can point to no case that allows a landlord to invoke the Ellis Act to temporarily go out of the rental business while it remodels or makes repairs to its buildings. And that makes sense, because that is not the purpose of the Ellis Act,” the tenants’ lawyers wrote in a trial brief.

    The lawyer pointed to an email sent by Douglas Emmett CEO Jordan Kaplan to city housing official Mercedes Márquez in May 2023, just days before the eviction notices were filed, as evidence that the company intended to re-rent the units.

    “This project is likely to take many years and assuming we bring the rental units back online within 10 years (which is a very good assumption) they will still be subject to the RSO,” Kaplan wrote, referring to the city’s rent stabilization ordinance.

    In his arguments on behalf of Douglas Emmett, Gibson pointed to that same email as evidence that the company wasn’t trying to evade rent control.

    “I personally assure you we are not doing this to remove Barrington Plaza from the RSO,” the email said.

    Installing fire sprinklers and making other safety upgrades is a multiyear project, and the apartments will be removed from the market during that time, he said.

    The law allows owners to use the Ellis Act to “take the property off the rental market for a longterm period,” the company’s lawyers argued in a trial brief.

    The Ellis Act does not require owners to remove the properties from the rental market forever, he said. Only that they do not “conduct a sham removal” in order to evade rent control.

    “This is not one of those sham situations,” Gibson said.

    Paloma Esquivel

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  • What’s the average rent in Canada? – MoneySense

    What’s the average rent in Canada? – MoneySense

    The data released Monday by Rentals.ca and Urbanation, which analyzes monthly listings from the former’s network, shows the average monthly cost of a one-bedroom unit in February was $1,920, up 12.9% from the same month in 2023.

    The average asking price for a two-bedroom was $2,293, up 11.3% annually.

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    How much have rent costs increased in Canada?

    The report says asking rents in Canada have increased overall by a total of 21%, or an average of $384 per month, from two years ago, just before the start of interest rate hikes by the Bank of Canada (BoC).

    Alberta maintained its status as the province with the fastest-growing rents, with total average asking prices up 20% annually last month to reach $1,708.

    British Columbia and Ontario posted the slowest growth in February, with annual increases of 1.3% and 1%, respectively. But the provinces remain Canada’s most expensive for renters, with total average asking rents of $2,481 in B.C. and $2,431 in Ontario.

    What’s the most expensive city in Canada for rent?

    On a municipal basis, the largest cities in those two provinces also remain the most expensive major cities to live in Canada for renters. The average asking price for a one-bedroom unit in Vancouver last month was $2,653, down 1.1% from a month earlier, though still 0.5% higher than February 2023.

    In Toronto, landlords were listing one-bedroom units for $2,495 on average, down 0.6% on a month-over-month basis and 0.2% from a year ago.

    Condos vs. apartments

    Traditional purpose-built rental apartments posted the fastest year-over-year price growth in February with a 14.4% increase, as rents averaged $2,110. Condominium rentals, with an average rent of $2,372, and apartments in houses, at $2,347, had slower annual growth of 5% and 5.3%, respectively.

    The Canadian Press

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  • Bill to make more rentals pet friendly would put an end to ‘no dogs allowed,’ lawmaker says

    Bill to make more rentals pet friendly would put an end to ‘no dogs allowed,’ lawmaker says

    All dogs may go to heaven, but California landlords aren’t as accommodating.

    Pet owners can have a tougher time finding apartments because of the surfeit of landlords who don’t allow dogs, cats or other animals in their buildings. A new bill, however, seeks to open more apartments to renters with pets.

    The legislation, in fact, would allow landlords to ask about pet ownership only after a tenant’s application has been approved, says Assemblymember Matt Haney (D-San Francisco), author of the bill.

    Haney’s proposal would end blanket bans on specific pets, he said, adding that the measure would help ease California’s housing crisis.

    Haney introduced Assembly Bill 2216 earlier this month, which he said in a news release requires landlords to “have a reasonable reason[s] for not allowing a pet in a rental unit.”

    “I’ve heard from many constituents about the incredible hurdles and challenges they faced in finding homes simply because they own pets,” Haney told The Times on Wednesday. “They’ve been repeatedly denied because they have a dog — even if their dog is an emotional support animal — and they need accommodations.”

    Haney said he found inspiration from a British bill introduced in Parliament in May that makes pet ownership “an implied term of an assured tenancy,” unless “the landlord reasonably refuses.”

    Haney said that landlords’ restrictions on pets are crippling for the majority of California renters.

    He noted that nearly 70% of the state’s 17 million renting families are pet owners and, of those, nearly 3 million live in Los Angeles County.

    Statistics on pet ownership vary.

    The American Veterinary Medical Assn. said that, in 2020, 45% of all U.S. households owned dogs and 26% owned cats. Among those, 39% of all renters favored canines and 29% preferred felines.

    A widely cited 2014 Apartments.com survey placed pet ownership among renters at 72%. The Humane Society also lists 72% of renters as pet owners.

    What is indisputable, Haney said, is the low number of rentals in California that say they are “pet friendly.” His staff identified daily listings over the course of a week on real estate website Zillow that showed 21% of available rentals in San Francisco allowed pets, and 26% in Los Angeles.

    “California pet owners are over two-thirds of renters, and they’re excluded from units,” Haney said. “I’m a huge supporter of building access to housing, and this is a housing issue.”

    Andrea Amavisca, a senior legislative advocate at the California Immigration Policy Center, said she and her partner spent more than a month trying to find a two-bedroom rental unit in Sacramento that permitted their small mixed-breed dog.

    “Landlords that initially liked our application would suddenly stop answering our calls once they found out we had a dog,” Amavisca said in a statement. “Or others would require a pet deposit close to $1,000 that would put the unit totally out of our budget.”

    Amavisca said it was unfair that nearly every landlord “had a different pet policy with fees that varied based on discretion,” meaning they could charge what they pleased. Some charged only $20 a month, while others asked for $100 and some wanted four-figure cleaning deposits.

    Haney’s bill does not address fees, and the legislation wouldn’t bar landlords from excluding certain types of pets.

    “We’re not saying every landlord should have to accept every animal,” Haney said.

    Haney’s bill defines “a common household pet” as “a domesticated animal, including a dog or cat, that is commonly kept in the home for pleasure rather than for commercial purposes.”

    When asked if boa constrictors, lizards, fish or other legally acquired pets met the definition, Haney said the bill was centered on “companion animals” such as dogs or cats.

    Calls and emails to the California Apartment Assn. and the Apartment Assn. of California Southern Cities seeking comment on this bill were not returned.

    California Oaks Property Management, which manages residential and commercial properties in Ventura County, listed a series of cons regarding pet ownership in a 2023 post to landlords that included property damage, noise complaints and liability issues from possible animal attacks.

    California Oaks recommended that landlords charge an added deposit of $250 to $500 depending on breed.

    Haney said he expected to receive some pushback from landlords.

    “I understand some will be concerned about the potential of taking on renters with pets that do damage in ways they want to avoid,” he said. “I’m open to dialogue.”

    Haney said his bill would also help bring roughly 829,000 tenants who are hiding pets from landlords into the sunshine.

    The bill is in its infancy and has yet to be referred to an Assembly committee, according to state legislative records, although it may come up for a hearing March 9.

    Andrew J. Campa

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  • Is your rental home flooded? What tenants can do to fix the damage

    Is your rental home flooded? What tenants can do to fix the damage

    As soon as the floodwaters subside in Southern California, many tenants will start the daunting task of assessing what’s been damaged or lost in their rental homes or apartments.

    As of late Monday, authorities just in Los Angeles County responded to more than 300 mudslides, with 35 homes or buildings damaged by debris flows, including five that were deemed unsafe to enter.

    If you were given evacuation orders, do not return to your home until the order has been lifted by the local authorities or the city.

    Once you’re able to safely return to your rental and assess the damage, there are two things you should know.

    First, damage to the rental property is not your responsibility, it’s the landlord’s. Getting your landlord to fix the damage, though, can be a challenge.

    “Unfortunately, too much of this is a burden of the tenant to hold the landlord accountable,” said Larry Gross, executive director of the Coalition for Economic Survival.

    Second, although a renters insurance policy can help under certain circumstances, it will not cover flood damage to your personal property.

    Renters insurance reimburses you for damage to your belongings, including losses caused by some — but not all — natural disasters. The natural disasters that are not covered by rental insurance include floods, mudflows, sinkholes and earthquakes.

    Janet Ruiz, communications director for the Insurance Information Institute, said flood damage is defined as losses caused by water that rises from the ground up. However, if water comes into your home from above — for example, when wind damages the roof or a window and rain cascades in — there is a possibility of coverage.

    A water pipe that bursts and floods your dwelling is the other type of water damage that is covered by a renter’s policy, Ruiz said.

    If your furniture, clothes, and computer are floating in a pool of floodwater in your living room, chances are good that you’ll have to pay out of pocket to replace them.

    Your renters policy may still come in handy if you’re forced to move by the storms. Depending on the extent of the damage, a dwelling can be deemed uninhabitable. Your insurance might be able to cover the costs associated with temporary relocation; contact your insurance provider to find out.

    Ruiz said most policies will pay for your additional living expenses when you are displaced from your home by a covered loss (such as damage caused by the wind) and need temporary shelter. Keep all your receipts to document your expenditures.

    How to get your landlord to make repairs

    Landlords have the responsibility to meet the habitability requirement for rental properties, meaning every rental unit must be maintained in a safe living condition. Part of the requirement is to provide “effective waterproofing and weather protection to the roof and exterior walls, including unbroken windows and doors.”

    When a storm has damaged a rental — for example, high winds knock down a tree that lands and caves in a roof or rain has caused a roof leak — the landlord must fix it. State law also requires landlords to make sure their properties are free of dampness and visible mold.

    Because of the legal requirements, it may be easy to get your landlord to fix flood damage right away. But most Californians don’t carry flood insurance, so the costs faced by your landlord could deter a speedy response.

    Also, when a storm of this magnitude barrels through the state, contractors are usually overwhelmed with requests for repairs. A landlord who is trying in good faith to fix a rental might be stuck waiting until they can get a professional to do the work.

    “Unfortunately,” Gross said, “there are too many [situations] where it’s not [repaired quickly] and of course it also depends on the severity of the situation.”

    If a landlord doesn’t repair the damage in a reasonable time frame, a renter in the city of Los Angeles can file a complaint with the city’s housing department. This will prompt a visit by a code enforcement officer.

    Landlords are also responsible when damage to the rental causes harm to the renter’s personal property. If your landlord won’t comply with your request for repairs, replacement or reimbursement, that can be a case for small claims court as well.

    Gross doesn’t advise withholding your rent to try to get the landlord to fix damage to your rental, although you have that option. Doing so, Gross said, could lead the landlord to seek to evict you.

    The Coalition for Economic Survival is one of several local organizations that can help renters understand their rights and advise them what can be done if a prickly landlord isn’t helpful. Here’s a list of some of the others.

    • Tenants Together is a statewide coalition of local tenant organizations, that offers resources and a directory to find an organization near you.
    • Basta, which has offices in Los Angeles and Long Beach, helps residents with habitability problems, among other services.
    • The Housing Rights Center serves Los Angeles County and has a housing rights hotline — 800-477-5977 — available from 8:30 a.m. to 5 p.m.
    • The Legal Aid Foundation of Los Angeles has an online tenant small claims resource library.
    • Tenants of California‘s members can advise renters on habitability issues.
    • Stay Housed LA can provide free legal help to certain Los Angeles County residents. Check the group’s website for a list of eligible ZIP Codes.
    • Santa Monicans for Renters’ Rights has volunteers who can answer questions or offer a referral to a resource who can help.

    What if my car has been damaged?

    Flood damage to cars, including flooding from a storm surge, is covered if you have “comprehensive coverage,” also known as “other than collision” coverage, as part of your auto insurance. Comprehensive coverage is optional with a standard auto policy.

    Ruiz said most people who took out a car loan to buy their vehicle will have comprehensive coverage because loan companies require it.

    Some people with older cars do not elect to have the coverage, however. That’s because, “at the end of the day, you only get the value of the vehicle,” she said.

    What else can renters with flood damage do?

    You might not be able to get reimbursed for your lost items at the moment, but you can deduct the amount you lost on your state and federal tax returns.

    To help in the future, renters can apply for flood insurance to protect their personal belongings through FEMA’s National Flood Insurance program. For renters, the program covers up to $100,000 in damage to the contents of a unit.

    The National Flood Insurance Program is available to anyone living in one of the 24,000 participating U.S. communities or in a flood-prone area. You can see whether your community is part of the program by checking the “community status report” on the program website.

    If your community is in the program, you can obtain a flood policy from a participating insurer. The National Flood Insurance program offers a list on its website.

    The policy won’t go into effect, however, until 30 days after it’s purchased.

    You can also reach out to private insurers to see if they offer their own version of flood insurance. But there aren’t many that do, Ruiz said, so your best bet is to stick with the National Flood Insurance Program.

    Staff writer Grace Toohey contributed to this report.



    Karen Garcia

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  • L.A. tenants awaiting emergency rental assistance receive eviction protection

    L.A. tenants awaiting emergency rental assistance receive eviction protection

    The Los Angeles City Council adopted an ordinance Friday that prevents the eviction of tenants who are waiting to receive emergency rental assistance from the city.

    The vote came one day after the deadline to pay rent debt accumulated during the COVID-19 pandemic.

    More than 3,200 residents have been approved for the United to House L.A. Emergency Renters Assistance Program, which provides up to six months of unpaid rent for accepted applicants. Only 25% of the $30.4 million allocated for rental assistance has been distributed.

    That means a significant number of renters who have been promised emergency funds have not yet received their money. Thousands more are waiting to hear if they have been approved for the program, which has received more than 31,000 applications.

    Only those who have been approved will receive eviction protection.

    Councilmember Eunisses Hernandez, who introduced the motion to draft the ordinance last week, said prevention is essential while fighting homelessness. She wants to stem the eviction-to-homelessness pipeline, she said.

    “I don’t see us getting out of this homelessness crisis unless we as a city truly make transformational policy decisions around keeping people in their housing,” she said.

    There are not enough funds to assist every United to House L.A. applicant — according to Los Angeles Housing Department data, there were $472 million in claims from applicants, nearly $454 million more than the total available. Applications closed in October.

    It will take roughly 120 days from now for all applications to be processed. All applicants approved on or before May 31 will be protected from eviction, according to the draft ordinance the City Council voted to adopt Friday. Renters waiting to hear back will be at risk of eviction until their application is approved.

    Eviction protection applies only if the sole reason for eviction is nonpayment of rent.

    An earlier version of the motion that led to the ordinance would have protected all renters who applied for emergency funds regardless of their application status. Groups representing property owners raised concerns that this would lead to an indefinite delay of rent payments without the option to evict.

    “We’re thankful that the council narrowed it down to a smaller pool of individuals who have been approved,” said Fred Sutton, senior vice president of local public affairs for the California Apartment Assn.

    “But there remains the concern that this whole item was really rushed in a manner that isn’t acceptable,” he said.

    The City Council motion that prompted the ordinance was introduced Jan. 24 and approved Jan. 26. The ordinance was then drafted and adopted Feb. 2. Hernandez said it was necessary to move fast considering Thursday’s deadline.

    Rental arrears from Oct. 1, 2021, to Jan. 31, 2023, were due Thursday, the same day rent increases became allowed for units that fall under the city’s rent stabilization ordinance. Tenants living in rent-stabilized units could see rent increases of up to 4%, or 6% if the landlord pays for gas and electricity.

    “Housing is a human right,” Hernandez said. “For the Feb. 1 rent deadline to happen on the same day that rent increases take place, it’s just really sad.”

    Amid the challenges renters face, Hernandez said she hopes this ordinance will provide the protection necessary to keep people off the street.

    “With just a little bit of help, they will stay in their housing,” she said.



    Caroline Petrow-Cohen

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  • L.A. City Council votes to protect tenants while they await rental assistance

    L.A. City Council votes to protect tenants while they await rental assistance

    After a lengthy discussion, the Los Angeles City Council voted Friday to prohibit the eviction of tenants whose rental assistance applications have been approved but who have not yet received their funds.

    The move comes days before a deadline for tenants to pay pandemic-era rental arrears. Under the city’s plan to end COVID-19 eviction protections, unpaid rent accumulated from Oct. 1, 2021, to Jan. 31, 2023, is due Thursday.

    More than 25,000 applicants are waiting to find out if they are eligible for funds from the United to House L.A. Emergency Renters Assistance Program, which provides up to six months of unpaid rent for qualified and selected renters and property owners.

    Roughly 3,200 applicants were approved for the program, but most have not received their aid. Only 25% of the $30.4 million allocated for emergency assistance has been distributed.

    Renters who did not apply for the program or were not approved could face eviction if they do not make their outstanding payments by Thursday. The deadline to apply was in October.

    The City Council motion, introduced by Councilmembers Eunisses Hernandez and Paul Krekorian, originally aimed to protect every renter who applied to the United to House L.A. program, regardless of their application status.

    After pushback from groups representing property owners, the motion was amended to prohibit evictions only for applicants whose applications have been approved. Those individuals will be protected from eviction for 120 days after Feb. 1 while their rental assistance funds are processed.

    “Tenants who have already been approved for emergency rental assistance should not be evicted while they’re waiting for their checks,” Krekorian said. “Their landlords are going to get paid, so they shouldn’t be putting tenants out just because the city took a little longer to get them the money.”

    Applicants who have not yet been approved but are qualified will receive the same protections once granted approval.

    Daniel Yukelson, executive director of the Apartment Assn. of Greater Los Angeles, said the motion was unfair to small property owners who rely on rent payments for their livelihood.

    Before the amendment was enacted, the motion would have prevented landlords from evicting tenants for an indefinite period of time while they waited for their application to be processed.

    “Owners would not be participating in the program if they knew this would be the ramification,” he said. “It’s not as egregious as it would have been without this amendment.”

    Fred Sutton, senior vice president of local public affairs for the California Apartment Assn., also said the amendment was key. But he’s still wary of how long it might take for renters and owners to receive their money.

    “It’s just a matter of those funds getting to the individual,” he said, “but we are very concerned about the procedural bureaucracy that takes so long to get these dollars out the door.”

    Sutton also criticized the “rushed” timeline of the City Council motion, which was introduced on Wednesday.

    “There was one business day to review a very broad and somewhat complicated motion and on a procedural level, that shouldn’t be acceptable,” he said.

    Hernandez said it was necessary to get the motion approved prior to the rent payment deadline.

    “With the Feb. 1 rent debt deadline looming and thousands of tenants at risk of eviction, it’s incumbent on us to do everything we can to stop the eviction-to-homelessness pipeline and keep people in their homes,” she said. “The city can and must do more to keep Angelenos housed.”

    Caroline Petrow-Cohen

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  • Say what?! 5 financial buzzwords we kept hearing in 2023 – MoneySense

    Say what?! 5 financial buzzwords we kept hearing in 2023 – MoneySense

    1. Quiet hiring 

    First, there was the trend of “quiet quitting”: a disgruntled employee doing the bare minimum required for their role. Then there was “quiet firing”: an employer reducing a worker’s duties and training, subtly nudging them to quit. And then, in 2023, we saw the rise of “quiet hiring”: an employer looking to its existing employees to fill a skills gap or take on more responsibilities, rather than hiring someone new. Quiet hiring is typically a cost-cutting or cost-saving measure, but it can also be an opportunity for a staffer who wants to try something new, move up to a new role or stack their case to ask for a raise. Quiet hiring can also refer to outsourcing work to short-term contractors instead of hiring new workers. —Jaclyn Law

    2. Soft saving

    Facing high inflation, high interest rates, expensive housing and mounting debt, many young people are unsure if they’ll ever be able to retire. So, many Gen Zers are rejecting aggressive saving (see: the FIRE movement) and embracing “soft living”—prioritizing things like comfort, balance, personal growth and wellness. “Soft saving” is part of that. It’s a lower-stress approach to personal finance and investing that focuses on the present. That doesn’t mean Gen Z is spending recklessly—but some might see saving for retirement as more of a nice-to-have than a need. —J.L.

    Recommended savings reads

    3. Inflation isolation

    Is inflation dampening your social life? A November 2023 Ipsos poll found that the rising cost of living is causing “inflation isolation.” Half of Canadians are staying at home more often, and a third of us are socializing less to avoid spending money. As a result, 20% of us are feeling isolated. Pretty bleak, right? Plus, those of us who are struggling with debt are more likely to feel stress and anxiety, as well as cut back on seeing friends and family. If you’re experiencing feelings of anxiety, stress or depression, read our guide to finding free and low-cost mental health resources in Canada. —Margaret Montgomery

    Recommended inflation reads

    4. Housing-market nepo baby

    When I first saw this term in a recent Wealthsimple newsletter, I couldn’t help but laugh… and then I wanted to cry. “Nepo baby” refers to the child of a celebrity who has benefited from their parent’s success, wealth and name recognition. A nepo home buyer in Canada is someone whose parents already own a home and can help their kids afford a down payment for a home, according to some sources. Statistics Canada reports that “in 2021, the adult children (millennial and Generation Z tax filers born in the 1990s) of homeowners were twice as likely to own a home as those of non-homeowners.” Adult children whose parents owned multiple properties were three times as likely to own a home than those whose parents were non-home owners. —M.M.

    Recommended real estate and mortgage reads

    5. Recession core

    Move over, minimalism—recession core is here. Yep, that’s right, there’s a whole aesthetic inspired by living in a recession. Basically, this means going back to simpler styles and using items already in your wardrobe. Look, I get it. Minimalism might actually require you to spend lots of money on “clean” and refined-looking items, so that’s out of the question for many right now. Instead, many of us are looking for greater value when we shop—a habit that could pay off even after the economy improves. —M.M.

    Recommended thrifty reads

    We can think of several more financial buzzwords that were popular this year, from “tip-flation” to “funflation.” Will they still be talked about in 2024, or will they go the way of “YOLO,” “the new normal” and “The Great Resignation”? Only time will tell. We want to know which trendy money words you love and hate. Share your picks in the comments below, and then boost your financial vocabulary by checking out the MoneySense Glossary.

    More about financial literacy:




    About Margaret Montgomery

    Margaret Montgomery is MoneySense’s editorial assistant and MoneyFlex columnist. She studied business administration at Wilfrid Laurier University and journalism at Centennial College.

    About Jaclyn Law


    About Jaclyn Law

    Jaclyn Law is MoneySense’s managing editor. She has worked in Canadian media for over 20 years, including editor roles at Chatelaine and Abilities and freelancing for The Globe and Mail, Report on Business, Profit, Reader’s Digest and more. She completed the Canadian Securities Course in 2022.

    Margaret Montgomery

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