Toronto Home Purchasing Down, Prices Still Up
For the second month in a row, home purchasing in Toronto slows down while prices continue to increase. A quick look at the above chart gives you these stats: Sales on existing homes dropped by 12.5% compared to August 2011 Home prices rose by 6.5% Condo sales were down by 22% Toronto had 6.418 homes…
Read moreWhy Looking at Average Home Prices isn’t Enough
Many factors come into play when discussing the real estate market in Canada; and one of the biggest is home prices. Have they gone up? Increasing slightly could be a sign that our economy’s going up and that people are getting more value out of their home. But are they going up too high? That…
Read moreIs Your Property Value Going Down?
Experts have been predicting all year that property values are going to start declining across the country. And that those in especially hot markets, such as Toronto and Vancouver, can expect to see a 10 to 15 per cent decrease in their property value over the next several years. This of course has many homeowners…
Read moreZero Down Mortgages Becoming Obsolete in Canada
Mortgage down payments are no joke in Canada. Home prices are hitting their ceilings in many areas, and the federal government has just imposed shorter amortization periods for homebuyers who don’t have the full 20 per cent. So then, it may come as no surprise that the biggest lender of zero-down mortgages in Canada has…
Read moreShould the New Mortgage Rules be Revisited?
As of tomorrow the new mortgage rules will have been in effect for two months and, as predicted, they’ve had some impact on Canada’s housing and mortgage market. Those effects are just the ones that many with close ties in the industry feared; and just the ones that Jim Flaherty has hoped for. The reduced…
Read moreAn Interesting Look at Canada’s Workforce
The National Post recently ran a very interesting infographic regarding Canada’s workforce. The diagram was thorough and covered everything from the overall unemployment rate in Canada, broken down by province; to the number of women in the workforce and their pay compared to men; to the amount of people working in retirement, and the age…
Read moreFewer of Us Living Paycheque to Paycheque, Still not Enough
This morning we talked about how our consumer spending has gotten so high that we simply can’t afford to do too much more of it. If we don’t continue spending, Moody’s says that we have a 20 per cent chance of falling into another recession. But it’s a very delicate balance between sufficient consumer spending,…
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