Think Boomers are Going to Scoop Up all Those Condos? Think Again!
There are quite a few people who would be very happy if the aging Baby Boomers came in and scooped up all the excess condos in cities such as Toronto or Vancouver, where there’s a gross overstock on the market. Now, a new survey from Royal LePage says that we shouldn’t be holding our breath…
Read moreIs a “Lacklustre” 2% Rise in Home Values Such a Bad Thing?
TD Economics has released a report titled “Long-run rate of return for Canadian home prices,” which states that home prices should see a “lacklustre” return of only 2 per cent this year. And while that has some panicking, especially on the heels of the news that our economy is expected to slow in growth. But,…
Read moreOECD: Canada to Face Period of Slow Economic Growth
Canada may have lost its bragging rights when it comes to being one of the best economic performers of big industrial nations. According to a report issued by the Organization for Economic Co-operation and Development (OECD) on Monday, the data for Canada “continues to point to weak growth,” while the economies in the United States…
Read moreJim Flaherty: ‘I Thank’ the Banks that Didn’t Cut Mortgage Rates
Finance Minister Jim Flaherty has been known in the past for lashing out at the banks for their “irresponsible lending” habits and for encouraging Canadian consumers to take on even more debt that they can’t afford. When the Bank of Montreal slashed their mortgage rates to just 2.99 per cent for a 5-year fixed term…
Read more‘Accredited Senior Agents’ a New Specialized Type of Real Estate Agent in Ontario
There’s a new kind of real estate agent in Ontario, and they’re called “accredited senior real estate agents.” These real agents focus on helping only the elderly find, buy, and sell homes that they’re interested in, and it’s a field that some agents are moving to in anticipation of the huge Baby Boomer crowd that…
Read moreThe Biggest Mistake to Avoid with Rent to Own Homes
We’ve talked about rent to own homes a couple of times before. With a rent to own home, typically a renter signs into an agreement with the current owner of the home that they will rent the property for a short while, before purchasing the home outright. While renting, the renter pays a small percentage…
Read moreWalking the Fine Line of Housing Stimulus and a Housing Bubble
Finance Minister Jim Flaherty seems to have been walking a fine line with the taxpayers over the past couple of years. Four years ago he increased the amortization periods on mortgages to 40 years – a whopping amount of time, considering how low that could make some monthly mortgage payments. Flaherty was criticized for this…
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