Toronto cemeteries squeezed as land and upkeep income run low
Even cemeteries are not sheltered from the tumult of international finance.
Historically low interest rates are reducing the amount of money flowing from the dedicated funds cemeteries rely on to pay maintenance expenses, forcing them to turn to new income to maintain existing grounds.
“We couldn’t survive, in other words, on just the investment, because of the low interest rates,” said Margaret Schidoi, the accountant at St. John’s Norway Cemetery, a 14 hectare (35-acre) property in the Upper Beaches.
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