Page 11 - Sports Energy News, Cornwall, Issue No 155

www.sportsenergynews.com Issue #155 December 2025 11

Stormont-Dundas-South Glengarry MPP
On June 2 , Elect Interview with MPP Nolan Quinn
nd
Nolan makes Stormont–Dundas–South remind us of what truly matters festive moments for generations to
the
come.
holidays—family,
Glengarry such an extraordinary during
gratitude, and coming together as
place to call home.
As we head into the new year,
a community to lift each other up. our government is proud of all the
Quinn I’ve had the pleasure of joining I also want to extend my sincere great investments we’ve made that
Over the past several weeks,
to
the
further support our communities,
many of you at festive events gratitude
volunteers,
across SDSG, including local service clubs, teachers, parents, and we look forward to continuing
parades, Christmas tree lightings, and municipal partners who this work in the new year.
and school concerts. Each of these work tirelessly behind the scenes
As we all gather with loved ones
NolanQuinn.ca 1-866-477-9477 moments has highlighted the to make these events possible. in the weeks ahead, may your
s the holidays approach and
Awe prepare to welcome a new warmth, generosity, and joy that Their dedication ensures that homes be filled with happiness,
year, I want to take a moment to define our community. our cherished holiday traditions and the warmth of the season.
reflect on the festive spirit and These gatherings hold such a continue to thrive and that families From my family to yours, merry
strong sense of community that special place in our hearts and across SDSG can enjoy these Christmas, and happy holidays.
Johnston - Continued from page 10 bankruptcies is now accelerating. mortgages were three months or the purchaser.”
carrying routine expenses on credit, Hoyes says the increase is still more past due at the end of August.
then falling behind as payments pile “primarily renters,” who typically But Hoyes says that figure masks Landlords are facing a similar squeeze
up. He adds that tightening housing have less home equity to draw wider stress among homeowners. as higher mortgage rates, softer
conditions are increasingly part of the upon and are more vulnerable to The Hoyes Michalos Homeowners rents, and weaker short-term rental
problem. “In the past, homeowners income pressure. “In a bankruptcy, Bankruptcy Index, which tracks the demand leave many with negative
could use their increasing home the bankrupt is required to pay a proportion of insolvent debtors who cash flow. Hoyes notes that many
equity to refinance, but now that real portion of their surplus income,” own a home, fell to 7.2% in September. borrowers keep mortgage payments
estate prices have plateaued, and in he said. “As incomes stagnate and Despite the lower reading, Hoyes current by falling behind on other
some markets fallen, that option no unemployment increases, there is says stress is rising among mortgage obligations, a pattern reflected in
longer exists, leaving insolvency as a less surplus income, and therefore a holders, particularly renewal-stage rising insolvency filings and higher
viable option,” he said. bankruptcy is not as punitive as it was borrowers, pre-construction buyers, 90-day-plus delinquencies across
Bankruptcies gain momentum, led when incomes were higher.” At the and small landlords. “There was a several credit types.
by renters. same time, as home equity declines, boom in pre-construction sales from Looking ahead, he expects more
While most insolvent borrowers fewer indebted homeowners need 2020 through 2023, and many of homeowner filings in 2026. Modest
still opt for consumer proposals, to file proposals simply to protect those projects are now completing at rate cuts, he says, are unlikely to
which allow them to keep assets property value, a factor Hoyes says substantially lower values,” he said. meaningfully improve housing
under a negotiated repayment plan, is contributing to the recent rise in “It’s impossible for many pre-con affordability. He points to the
bankruptcies are starting to make bankruptcies. buyers to qualify for a mortgage, so historical range of the Homeowners
up a larger share of filings. In Homeowner strain deepens even as they’re walking away from deposits,” Bankruptcy Index, still well below
September, proposals accounted for mortgage arrears remain low. he added. “The story in 2026 will be its 2011 peak, as an indication that
80.4% of all insolvencies in Ontario, Mortgage arrears remain low at just the number of pre-con defaults that filings could climb further if income
and 78% nationally, but the pace of 0.24% of bank-issued residential result in substantial lawsuits against and housing pressures persist.