News
Albertans Concerned About Interest Rate Hikes & Housing Bubble
A new survey released by MNP LTD finds that Albertans are concerned about the uncertainty of a potential housing bubble and impending interest rate hikes, adding financial stress to households already carrying a record level of debt.
Six in ten (61 per cent) of Albertans and nearly half (48 per cent) of Canadians homeowners are concerned about the impact rising interest rates will have on their finances. At the same time, more than half of Albertans (59 per cent) are worried about the potential impact that a decline in house prices might have on homeowners.
“So many are over-leveraged right now. Making matters worse, many are not making regular payments against the principal. With the financial stress of the downturn, and the threat of an increase in interest rates, many are going to find it even harder to make ends meet,” says Donna Carson, Licensed Insolvency Trustee at MNP LTD, a division of MNP LLP.
Nearly four in ten (39 per cent) homeowners in Alberta say that they will be faced with financial difficulties if the value of their home goes down, the highest proportion among other provinces. Even if home values don’t decline in the near future; three in ten Albertans (31 per cent) who have a mortgage agree that they are ‘in over their head’ with their current mortgage payments.
Homeowners aren’t the only ones concerned. Nearly eighty per cent of Albertans rate their ability to cope with a 1% interest rate increase as less than optimal. The vast majority of Albertans (83 per cent) would have difficulty absorbing an additional $130 per month in interest payments on debt.
“We’ve become far too comfortable paying only the minimum payments on our debts. It’s time to start assessing our ability to pay down those debts and ask ourselves if we can truly afford them if there is a rate change,” says Carson.
When asked about their personal debt situation, the majority of Albertans don’t feel optimistic. Nearly seven in ten (69 per cent) rated their debt situation as less than good, while sixteen per cent rated their situation as bad. On a scale of one to ten, from terrible to excellent, Albertans gave themselves an average rating of 6.
With nearly four in ten Albertans (38 per cent) finding themselves within $200 per month of financial insolvency, there is little wiggle room left to pay any unexpected bills or debts. If that amount is increased to $300 per month, a staggering forty-two per cent of Albertans would be on the verge of insolvency, with nearly one in four (22 per cent) not making enough to cover their bills and debt payments. Four in ten (42 per cent) say they are concerned about their current level of debt.
“Albertans should be bracing themselves for what’s ahead, especially those who already consider themselves to be in financial distress. Seek professional advice and start creating a realistic plan to deal with that debt,” says Carson.
Survey Highlights include:
- Three in ten Albertans with a mortgage agree they are ‘in over their head’ with their current mortgage payments
- Nearly four in ten homeowners in Alberta agree they will face financial difficulties if the value of their home goes down, six in ten Albertans think we’re in a housing bubble
- Six in ten Albertans agree they are concerned about the impact of rising interest rates
- Nearly eighty per cent of Albertans rate their ability to cope with a 1% interest rate increase as less than optimal
- Over a quarter (27%) of Canadians with a mortgage agree that they are ‘in over their head’ with their current mortgage payments. This includes more than one in three Quebecers (35%), followed by residents of BC (32%), Alberta (31%), Atlantic Canada (25%), Saskatchewan and Manitoba (23%), and Ontario (21%).
- Half of Canadians (51%) are concerned about the potential impact on home owners that a decrease in house prices might bring.
- Over forty (44%) of Canadians are within $200 of financial insolvency at the end of the month, down 8 points from March 2017, and 12 points from September 2016.
- Women are significantly more likely (48% women vs. 39% men) than men to be within $200 of insolvency at month-end.
- Gen X’ers are more likely (48%) to be within $200 of insolvency at month-end, compared to Millennials (43%) and Baby Boomers (40%).
- Half of Canadians (50%) are $300 per month away from being financially insolvent.
- Atlantic Canadians are the most likely to rate their personal debt situation as ‘bad’ – the highest in the country at 22%
- While two in three Canadians (67%) think we’re in a housing bubble, only a minority (43%) expect that bubble to burst through a decline in house prices in the next year. Half (51%) are concerned about the potential impact on home owners that such a decrease might bring.
Business
CBC uses tax dollars to hire more bureaucrats, fewer journalists
By Jen Hodgson
The Canadian Broadcasting Corporation is using taxpayer money to pad its bureaucracy, while reducing the number of journalists on staff, according to access-to-information records obtained by the Canadian Taxpayers Federation.
“CBC defends its very existence based on its journalism, but its number of journalists are going down while its bureaucracy keeps getting bigger and taxpayer costs keeps going up,” said Franco Terrazzano, CTF Federal Director. “Why does the government keep giving CBC more taxpayer money if barely anyone is watching and its number of journalists keeps going down?”
The CBC employed 745 staff with “journalist” or “reporter” in their job title in 2021. That number dropped to 649 by 2025, the records obtained by the CTF show. Of the 6,100 total employees disclosed by the records, just 11 per cent of CBC staff had “journalist” or “reporter” as their job title in 2025, according to the records.
Even journalist roles such as editors, producers and hosts declined between 2021 and 2025.
While the number of journalists employed by the state broadcaster fell, the number of other bureaucrats grew. The total number of CBC management positions increased to 949 in 2025, up from 935 in 2021.
Bureaucratic roles such as “administrators,” “advisors,” “analysts” and sales staff all increased steadily during the same period.
Management positions saw the steepest growth, with titles like “national director,” “project lead,” “senior manager” and “supervisor” leading the surge.
These trends undermine the CBC’s long-standing claim that its frontline journalism justifies its existence. Despite bureaucratic bloat and fewer journalism positions, the CBC continues to promote its news coverage as a reason it deserves more than $1 billion in annual taxpayer funding.
Separate access-to-information records obtained by the CTF show further proof of CBC’s bloated bureaucracy.
The CBC has more than 250 directors, 450 managers and 780 producers who are paid more than $100,000 per year.
The CBC also employed 130 advisers, 81 analysts, 120 hosts, 80 project leads, 30 lead architects, 25 supervisors, among other positions, who were paid more than $100,000 last year, according to access-to-information records. The CBC redacted the roles for more than 200 employees.
CBC’s CEO Marie-Philippe Bouchard insists the broadcaster is a “precious public asset” that provides “trustworthy news and information.”
CBC’s previous CEO, Catherine Tait, made similar comments throughout her 6.5-year tenure.
“A Canada without the CBC is a Canada without local news [in some places],” Tait said in 2022. If funding were withheld, there would be “fewer journalists to hold decision-makers at all levels to account.”’
“Local news is absolutely at the core of what we do,” Tait said in a 2020 interview. “Canadians are coming to the CBC in numbers like we’ve never seen before.”
However, CBC News Network only accounts for about 1.8 per cent of TV audience share, according to its own data.
Meanwhile, taxpayer funding to CBC will surpass $1.4 billion this year, according to the federal government’s Main Estimates. The broadcaster has spent about $5.4 billion of taxpayers’ money over the last five years, according to the government of Canada.
Prime Minister Mark Carney claimed “our public broadcaster is underfunded” during the federal election. He pledged an initial $150-million annual funding increase and said that number could rise even higher.
CBC paid out $18.4 million in bonuses in 2024 after it eliminated hundreds of jobs. Following backlash from across the political spectrum, CBC ended its bonuses and handed out record high pay raises costing $37.7 million.
“Taxpayers shouldn’t have to pay for an office full of middle managers pretending to be reporters,” Terrazzano said. “The CBC’s own records prove it has fat to cut and if Carney is serious about saving money, he would force CBC to cut its bureaucratic bloat.
“Or better yet, Carney should defund the CBC.”
Internet
It’s only a matter of time before the government attaches strings to mainstream media subsidies
Misinformation is not exclusive to alternative online news organizations
In a previous world, whether they succeeded or failed at that was really no one’s business, at least provided the publisher wasn’t knowingly spreading false information intended to do harm. That is against the law, as outlined in Section 372 of the Criminal Code, which states:
“Everyone commits an offence who, with intent to injure or alarm a person, conveys information that they know is false, or causes such information to be conveyed by letter or any means of telecommunication.”
Do that, and you can be imprisoned for up to two years.
But if a publisher was simply offering poorly researched, unbalanced journalism, and wave after wave of unchallenged opinion pieces with the ability to pervert the flow of information and leave the public with false or distorted impressions of the world, he or she was free to do so. Freedom of the press and all that.
The broadcasting world has always been different. Licensed by the Canadian Radio-television and Telecommunications Commission (CRTC), content produced there must, according to the Broadcasting Act, be of “high standard”—something that the CRTC ensures through its proxy content regulator, the Canadian Broadcast Standards Council (CBSC).
Its most recent decision, for instance, condemned Sportsnet Ontario for failing to “provide a warning before showing scenes of extraordinary violence” when it broadcast highlights of UFC mixed martial arts competitions during morning weekend hours when children could watch. If you don’t understand how a warning would have prevented whatever trauma the highlights may have caused or how that might apply to the internet, take comfort in the fact that you aren’t alone.
The CRTC now has authority over all video and audio content posted digitally through the Online Streaming Act, and while it has not yet applied CRTC-approved CBSC standards to it, it’s probably only a matter of time before it does.
The same will—in my view—eventually take place regarding text news content. Since it has become a matter of public interest through subsidies, it’s inevitable that “high standard” expectations will be attached to eligibility. In other words, what once was nobody’s business is now everybody’s business. Freedom of the, er, press and all that.

Alberta Premier Danielle Smith
Which raises the point: is the Canadian public well informed by the news industry, and who exactly will be the judge of that now that market forces have been, if not eliminated, at least emasculated?
For instance, as former Opposition leader Preston Manning recently wondered on Substack, how can it be that “62 per cent of Ontarians,” according to a Pollara poll, believe Alberta Premier Danielle Smith to be a separatist?
“The truth is that Premier Smith—whom I’ve known personally for a long time—is not a separatist and has made that clear on numerous occasions to the public, the media, and anyone who asks her,” he wrote.
I, too, have been acquainted for many years with the woman Globe and Mailcolumnist Andrew Coyne likes to call “Premier Loon” and have the same view as Manning, whom I have also known for many years: Smith is not a separatist.
Manning’s theory is that there are three reasons for Ontarians’ disordered view—the first two being ignorance and indifference.
The third and greatest, he wrote, is “misinformation—not so much misinformation transmitted via social media, because it is especially older Ontarians who believe the lie about Smith—but misinformation fed into the minds of Ontarians via the traditional media” which includes CBC, CTV, Global, and “the Toronto-based, legacy print media.”
No doubt, some members of those organizations would protest and claim the former Reform Party leader is the cause of all the trouble.
Such is today’s Canada, where the flying time between Calgary and Toronto is roughly the same as between London and Moscow, and the sense of east-west cultural dislocation is at times similar. As Rudyard Kipling determined, the twain shall never meet “till earth and sky stand presently at God’s great judgment seat.”
This doesn’t mean easterners and westerners can’t get along. Heavens no. But what it does illustrate is that maybe having editorial coverage decisions universally made in Hogtown about Cowtown (the author’s outdated terminology), Halifax, St John’s, Yellowknife, or Prince Rupert isn’t helping national unity. It is ridiculous, when you think about it, that anyone believes a vast nation’s residents could have compatible views when key decisions are limited to those perched six degrees south of the 49th parallel within earshot of Buffalo.
But CTV won’t change. Global can’t. The Globe is a Toronto newspaper, and most Postmedia products have become stripped-down satellites condemned to eternally orbit 365 Bloor Street East.
The CRTC is preoccupied with finding novel ways to subsidize broadcasters to maintain a status quo involving breakfast shows. So we can’t expect any changes there, nor can we from the major publishers.
Which leaves the job to the CBC, whose job it has always been to make sure the twain could meet. That makes it fair to assume Manning will be writing for many years to come about Toronto’s mainstream media and misinformation about the West.
(Peter Menzies is a commentator and consultant on media, Macdonald-Laurier Institute Senior Fellow, a past publisher of the Calgary Herald, a former vice chair of the CRTC and a National Newspaper Award winner.)
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