How is Canada’s Housing Market Tied to the Economy?
We all hear talk all the time about the effects Canada’s housing market has on the economy. Consumers can’t be pushed out of the market with overvalued properties, because this would be a huge drag on the economy. The federal government must be careful about the rules they impose on mortgages, because that will slow…
Read moreMark Carney Clears Up Confusion Over Rate Policy
Is he raising them? Is he lowering them? Canadians watch the actions of Bank of Canada Governor, Mark Carney, very closely; mostly, whether or not he’s going to raise or lower the overnight lending rate. But it often seems like he says one thing one announcement, only to say something different the next. One time…
Read moreCMHC Housing Forecast Weaker than Originally Thought
We all know there’s a softening going on right now in most Canadian housing markets. Homebuyers know it, home sellers know it, and now, CMHC knows it, too. While the Crown corporation has undoubtedly seen the softening going on for several months, now they’ve come out with a new forecast for the remainder of this…
Read moreFour Common Questions About Debt Collectors, Answered!
With so much talk of our household debt, and how the debt-to-income ratio is now 163%, there also comes a lot of questions about debt collectors. Even if you don’t have any debt now (which is unlikely, given recent statistics,) the chances are good that at some point or another in your life, you have…
Read moreIs Your Home an Expense, or an Investment?
Scotiabank recently surveyed a group of homeowners, asking them everything from whether they considered their home as an expense or investment to whether or not they’ll still have a mortgage when they enter retirement. Here are the findings from that survey. Expense, or Investment? As you can see from the above chart, a large…
Read moreCanadian 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…
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