Welcome to the May issue of my monthly newsletter!
Planning a road trip this summer? Canada has plenty of kilometers of roadway to offer! The Trans-Canada highway officially opened in 1962, crosses all 10 provinces, and stretches 7,821 km from Victoria BC to St. John’s NL.
A few fun things to see include:
• The longest bridge over ice-covered waters (Confederation Bridge in PEI)
• The Terry Fox Memorial (in Thunder Bay)
• 44 wildlife crossings (distributed throughout Banff National Park)
Prefer a North-South route? You could drive 6,511 km from Tuktoyaktuk down to Point Pelee National Park, crossing the Arctic Circle and seeing the Vegreville Pysanka and the Winnipeg Mint on the way. With over 1.1 million kilometers of roadway to explore, there’s bound to be a road worth taking!
Before You Sign: The Condo Buying Checklist
Thinking of buying a condo, townhouse or other strata-based home? There’s plenty to think about, from reserve funds to house rules to joining the board. Here are the crucial considerations before you sign on the dotted line.
New or Resale?
There are important differences between new/rebuild or resale unit. With a new unit, you’ll want to ask about warranties of appliances and features, the proposed budget, other planned construction in the area, and what tax benefits will be available. With a resale unit, you’ll want to review the reserve fund study, meeting minutes of the board, uncover existing issues and what planned replacements or improvements might be needed.
Documents to Review
It’s important to know what you’re getting into. Requesting documents (in writing) from the builder or the management or condo corporation will give you the background you need to make an informed decision.
Here’s what to ask for:
· Corporation bylaws
· Registered condo plan
· Most recent financial statements
· Budget
· Condo or homeowner fee chart
· Minutes for the most recent AGM and condo board meetings
· Insurance certificate
· Reserve fund study/report
· Structural deficiencies or studies, especially post tension cables
· Legal judgements or actions
· Management contracts
· Summary of deficiencies (if it’s a new building)
You’ll likely be charged either per page or per document (plan on spending a couple hundred dollars) and can take up to 10 days to fulfil the request.
What do you do with the Documents?
Once you have the paperwork, it’s important to have them reviewed by an expert. There are plenty of local condo review professionals online, or you can ask your realtor or lawyer for a referral. The biggest things to consider are:
· Legal disputes or pending lawsuits
· Reserve funds and adequate financial position
· Special assessments
· Bylaws that impact daily life, like pets, noise restrictions, and balcony contents
· Post tension cables
· Appropriateness of condo fees
· Insurance coverage
The Condo Board
Condo boards are traditionally made up of owners that manage finances, common area maintenance, repairs, and upholding the bylaws. Once a year, they will hold an annual general meeting, and often open the board for election or new board members to join.
If you’re buying, you may want to consider joining the board as you will have a say in building management, making improvements to the operations, and even help you get to know the other residents. Plus, it can look good on a résumé! However, there will be a time commitment required, you may be held as a scapegoat should something go wrong with the corporation. It’s not for everyone, but you will get an inside look at building operation.
Provincial Differences
Not every province is the same! Here’s a guide that explains what each province requires.
Inspect, Inspect, Inspect
As with any home, you’ll also want to do a physical inspection. In addition to flushing the toilets and turning on the lights inside the unit, you’ll need to inspect the common areas like stairways, the yard, railings, garbage and recycling and any building amenities. Here’s a checklist to use while touring the home.
Remember than any amenities need upkeeping – so you may like to have a pool or an elevator, but know it costs money, takes maintenance and will potentially result in big expenses. It also means more documents and inspection before you finalize your purchase.
Can AI Do the Work?
Glad you asked! AI is a great tool to employ when reviewing large volumes of documents – like board meeting minutes, condo bylaws, and more. Uploading the docs, as well as the provincial regulations, and asking for a comparison and any oddities is a great start. However, there truly is no substitute for experience, so don’t dismiss paying for professional help.
Overall, there’s plenty to consider when buying a condo. Don’t be afraid to ask for help – you have plenty of support behind you and, as your mortgage professional, I want you to be absolutely confident in your purchase and financial decisions.
Canada’s Most Buzz Worthy Concerts
There are SO many great acts on tour this summer, and no matter what kind of music or where in Canada you are, there’s bound to be something you’ll want to attend. Here are some of the biggest shows to whet your musical whistle.
Country Music
• Country Thunder includes The Red Clay Strays, Kane Brown and Lainey Wilson as the Calgary headliners, switching it up with Riley Green, Creed and Lainey Wilson for the Saskatchewan edition
• Boots and Hearts has an extensive and diverse lineup, including the Jonas Brothers, the Chicks, and Rascal Flatts for the Ontario edition and Shaboozy, Russell Dickerson and Midland at the Edmonton (West) edition
EDM
• The Badlands music festival returns to Calgary, where EDM lovers will be treated to Mau P, Dom Dolla, Griz and more
• If you’re closer to our nation’s capital, Escapade is another great EDM option where you can see Loud Luxury, Disco Lines, Alleycvt, and some repeats from Badlands as well
• Shambhala is already sold out, but you can join the waitlist or volunteer with the event if you still want to be part of the Salmo-based festival
Rock & Alternative
• Foo Fighters and Queens of the Stone Age fans will be excited to see them in Toronto, Regina, Edmonton, or Vancouver (https://www.foofighters.com/tour-dates/)
• Or maybe you’re a Guns ‘N’ Roses lover in Toronto, Edmonton or Vancouver, in which case you’re in for a treat later this summer https://gunsnroses.com/pages/tour#north-america-summer-2026
• Rush will be hitting the stage for several dates in Montreal and Toronto, this summer, with a few dates towards the end of the year in Edmonton and Vancouver https://www.rush.com/tour/fifty-something/
• Another fun option is AC/DC, who will be in the usual big 4 cities, plus Winnipeg https://www.acdc.com/tour/
• Finally, if you love a woman in rock, Alanis Morissette’s sole Canadian show might have you planning a trip to Calgary in early July https://alanis.com/events
Jazz
• For jazz enthusiasts in the Ottawa area, the Ottawa Jazz Festival awaits
• If you’re on the western side, you might opt for the Kaslo version
• The full lineup for the Montreal Jazz Fest was released at the end of March, which has some big names for you to check out
Other Genres
• French-Canadian microtonal math rock duo, Angine de Poitrine, is exploding onto the music scene. You can see them across Quebec, plus stops in Toronto, Winnipeg and Vancouver. Even if you don’t plan to go to a concert, they’re worth knowing more about
• Hip hop listeners will be both happy and sad that J. Cole is sharing his final album with attendees in Montreal, Toronto and Vancouver
• Hillary Duff is back on tour, hitting Toronto as her only Canadian stop this summer https://www.hilaryduff.com/live
• Punk and alt music fans will want to head to Warped Tour in Montreal to see the only Canadian stop, featuring Jimmy Eat World, Gob, Simple Plan, Pennywise, Sublime and MANY more
I’m sure there’s something in there for every music lover – so let me know which one is at the top of your list!
Economic Insights from Dr. Sherry Cooper
Largest Oil Price Shock in History Won’t Reverse Anytime Soon
The war against Iran started by Israel and the US on February 28 will not come to a rapid resolution. Public guidance from President Trump has repeatedly framed the campaign in terms of “weeks”, with timelines drifting from 4 to 6 to even 8 weeks, and more recent briefings suggesting “another two to three weeks” of U.S. attacks from early April.
At the same time, Iranian officials have signalled they are prepared for a longer conflict, meaning the limiting factor may be U.S. political tolerance and coalition dynamics rather than Iran’s willingness to continue.
Putting this together:
• Base case (market consensus): A limited, high intensity phase of the war that lasts on the order of a few months, with active large scale strikes tapering off sometime between late April and early summer 2026, replaced by a more chronic, lower‐level confrontation.
• Upside (fast peace): A durable ceasefire that sticks in the next 2–4 weeks, leading to a de facto end of major hostilities before summer.
• Downside (protracted conflict): If talks stall and low level attacks around the Gulf persist, the “war” in political and market terms could run through the rest of 2026, even without continuous large scale bombing.
Given the information available now, markets are trading as if major operations have weeks, not years, left, but with a material tail risk of a longer tail of instability.
Where we are now
• Iran has announced the Strait of Hormuz is “completely open” to commercial vessels for the duration of the current ceasefire, which triggered a sharp drop in Brent and WTI prices.
• Brent fell from around $98 intraday back to the high $80s after the announcement; prior to the war, it was below $70.
• U.S. WTI crude has fallen into the low $80s after peaking above $105–$110 earlier in the week; pre war levels were mid $60s per barrel.
So “open” in a legal sense is not the same as “back to normal” in a physical/logistical sense.
How long to get the flows back to normal?
Energy analysts are fairly aligned on three points:
1. Infrastructure and logistics are damaged or out of position: The Gulf’s energy system has suffered damage; some wells and facilities can be restarted in days or weeks, but a return to “something like normal” Gulf exports will take months. Tanker routes, insurance, and naval risk premia will remain disrupted for an extended period even after formal reopening.
2. Market rule of thumb: restoration time ≈ outage time: One widely cited rule: it tends to take about as long to bring production back as the duration of the outage. If Strait related disruptions last ~2½ months, analysts expect another ~2½ months to work back to pre war production and export volumes.
3. Stored reserves and inventories need rebuilding: Strategic stocks and commercial inventories have been drawn down during the disruption; refilling them keeps upward pressure under prices even after flows resume.
Why the Strait matters so much
This chokepoint is not just about oil; it’s a hub for multiple critical inputs into global production. Trade volumes are at risk, and we’re seeing shipping delays and route diversions. Rising oil prices are just the start; the product shortage list has been expanding the longer the blockade persists to include:
• Energy, LNG, and petrochemicals
• Fertilizers and agriculture
• Specialty gases and high-tech manufacturing
• Metals and heavy industry
• Transport, logistics, and consumer goods
For Hormuz specifically, analysts stress that short disruptions = mainly price volatility, but months long blockades = real quantity constraints for energy, fertilizers, and specialty inputs, with implications for inflation, industrial output, and trade balances.
Policy and business priorities
• End blockades quickly to avoid non linear escalation in supply chain damage once closures extend beyond a few weeks.
• Safeguard maritime transport and ensure secure corridors, including naval escorts and clear deconfliction protocols, to maintain at least partial flow.
• Enhance resilience through diversification of suppliers, alternative routes (where feasible), strategic stockpiles (energy, fertilizers, specialty gases), and more flexible logistics arrangements.
• Transparent communication from governments and firms to limit panic, hoarding, and self reinforcing disruption in financial and physical markets.
The central banks are aware of the weakening of the global economy, as reflected in layoffs and slower GDP growth. In Canada, homeowners are facing higher monthly mortgage payments after renewing or refinancing their mortgages. Despite the oil-induced rise in inflation, central banks will likely remain on the sidelines for as long as possible. Fixed mortgage rates have already risen, and continued uncertainty has fuelled the housing bear market in some regions of the country.
Thanks for joining me for another monthly newsletter.
Here’s your friendly reminder that Mother’s Day is coming up on Sunday May 10 (be sure to get her a card), Victoria Day is Monday May 18 (enjoy the holiday!), World Bee Day is Wednesday May 20, and Sunscreen Day on Wednesday May 27 (don’t forget to slather some on).
In addition to keeping you informed and entertained, I also do mortgage reviews! If you’ve had your mortgage for over 2 years, I’d love to see if there’s an opportunity to get a better rate, take out some equity, resize to another property, or whatever else you’ve got in mind. And if now isn’t the time, I look forward to seeing you back here in June!
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