Canadian Loan Default Numbers Fall to Pre-Recession Levels
A recent report released from Equifax shows that when it comes to the amount of Canadians that default on loan payments, we can rest easy in the knowledge that we’ve gotten the number back down to pre-recession levels. However, with the amount of debt we continue to take on still rising, and our household debt…
Read moreWhat is the Fiscal Cliff, and How Will it Affect Canadians?
Now that the presidential election is over in the United States, the question has gone from who will be the next President of the United States, to what in the world are they going to do about that fiscal cliff that is fast approaching? But while the term “fiscal cliff” has been thrown around a…
Read moreWhat Is an Economy? What are Economic Systems?
The U.S. presidential election was yesterday, and congratulations to Barack Obama for winning a second term in the White House. But just as the first polls were closing last night, analysts kept repeating that U.S. voters were largely voting based on “the economy” last night. Now, “the economy” didn’t include things like health care, unemployment,…
Read moreSurprised Anyone? Toronto Home Sales Down in October
We just talked this morning about how Canada’s housing market is not headed for a U.S.-style crash by any means. But there’s no doubt that Benjamin Tal wasn’t wrong when he said that the situation right now isn’t good by any stretch. And while you might not want to hold your breath waiting for an…
Read moreOkay, One More Time: We Are Not The U.S.
Economist Benjamin Tal, one of the most well-known and respected voices in the mortgage and real estate market in Canada, has once again released a report in which he points to many factors differing Canada’s “housing bubble” from the complete meltdown that happened in the States. Still, there are disbelievers, such as Seeking Alpha, who…
Read moreHow to Have More Money
Our household debt levels are at the highest point they’ve ever been in history. Meanwhile, our incomes are growing at their slowest rates during the same time period that our debt’s been rising; and high-cost items such as mortgages don’t seem to be getting cheaper at the rate most of us would like to see….
Read moreCondo Starts in Toronto Stalled due to Low Sales
Jim Flaherty can take a look at the lack of trucks and construction trailers, and partially finished condo projects around Toronto, and breathe a sigh of relief. His mortgage rules are working. Toronto condo starts are softening, and perhaps he can finally stop worrying about “the last Toronto condo buyer.” There is definitely some change…
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