My experience if quite similar, and based on a fair amount of troubleshooting, I'm pretty certain it's Eastlink.
I'm wondering if perhaps they're limiting customers to too few IP addresses. In other words, you and your neighbour(s) may be trying to connect to Eastlink through the same node (i.e. IP address).
In the past, when most households had one or two computers, it might not have been a problem to have several customers connect through the same IP. But now, most households have multiple devices besides computers connecting to the Internet (e.g. smartphones, tablets, ipods, etc.).
I suspect this might be overloading Eastlink's Internet connections and causing modems to crap out and restart.
There is also the question of throttling, an illegal practice used by some Internet Service Providers (ISPs) to intentionally slow down Internet service to heavy downloaders, which is basically everyone nowadays.
Some Internet Service Providers (ISPs) like Rogers have been caught throttling and have been forced to stop.
Eastlink says they don't throttle, but I always find it a bit strange that the outages in my house often seem to occur when there are more members of the household online and downloading data from the Internet.