Who’s Profiting from Housing Bubble Fear?
There are many economists and analysts in Canada who think that we’re currently in a housing bubble. And there are some, such as Bank of Canada Governor Mark Carney, that won’t even utter the word. But while housing bubbles usually don’t spell good news for anyone, there are some that are profiting from it. And…
Read moreRate of Debt Growth is Slowing
The newest stats that are coming out concerning the amount of debt Canadians carrying are somewhat confusing, but they do all point to good news in the end. During the first quarter of this year we managed to hit a new record high for the amount of debt we have, with a debt-to-income ratio of…
Read moreSudbury Seeing Growth All Around!
In May the credit agency DBRS published a report that said unemployment was a bigger threat to the Canadian economy than the housing market; because it’s unemployment that causes people to default on their mortgages and second mortgages. But if that’s true, Sudbury will be the exception. In this city, everything is just humming along….
Read moreBoC says Market will Cool, Moody’s Agrees
The Bank of Canada released its semi-annual Financial System Review this week and in it, they forecasted that the housing market in Canada was set to cool – a trend many have been worried about for the past year or so. The report, while not any real new news, does once again put the spotlight…
Read moreWhy no Borrower is Immune to Interest Rate Hikes
We’ve all been hearing Mark Carney at the Bank of Canada warn us about rising interest rates and what those are going to do to Canadians that are heavily in debt. And while the average debt-to-income ratio for Canadians is 153 per cent, even those who aren’t in too deep will feel the crunch when…
Read moreNo More Credit Cards?
After all his warnings about home equity loans, HELOCs, and household debt, Finance Minister Jim Flaherty might be encouraged by the news that credit cards are on their way out. But the relief will only be temporary, as plastic will simply be replaced by another way to use credit – a simpler, faster way for…
Read moreWe may be Overvalued, but still Better than the World
Canadians are prone to worry; it’s just one of those things that we’re really good at. And when homes in Vancouver are averaging prices of over $750,000 for a single detached; and the average amount for a Toronto mortgage is $650,000, it seems like there’s a lot for us to worry about. But we should…
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