Is 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,…
Read moreIs Canada Going into Another Recession?
When the global financial crisis hit in 2008 and much of the world went into a recession, here in Canada we felt pretty safe. Sure we may have dipped into a recession slightly for a short period of time. But for the most part our economy kept churning, and we kept spending in order to…
Read moreBoC Holds Rate Steady
Happy second anniversary! It’s been two years since there’s been any increase to the overnight rate here in Canada and to celebrate, Bank of Canada governor Mark Carney has held the interest rate right where it is. For the time-being. While Mr. Carney certainly pointed (again) to the fact that interest rates won’t stay this…
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