What 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…
Read moreTo Buy New, or Buy Resale?
When it comes to the type of home you’re going to buy, it’s something that a lot of people put a lot of thought into. Will it be one bedroom or two? A walk-up, or a bungalow? A condo, or a detached home? There are lots of decisions. But one that many don’t think about…
Read morePrepaid Credit Cards get New Regulations, Too!
The Canadian government has been becoming increasingly concerned about the amount of debt Canadians are racking up for themselves. Because of this, Finance Minister Jim Flaherty along with the Office of the Superintendent for Financial Institutions have placed a number of restrictions on home loans and second mortgages such as HELOCs. Now that those rules…
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