Don’t be Struck by Renovation Ruin
A recent survey done by the Canada Mortgage and Housing Corporation shows that Canadians love to renovate their homes. In fact, 40 per cent of households in ten of Canada’s biggest markets underwent some kind of renovation on their home last year. But as much as we love to renovate, we also don’t want to…
Read moreCalgary vs. Toronto
All eyes have been on Toronto’s housing and, more specifically, condo market lately and it has a lot of people worried. Finance Minister Jim Flaherty has stated that he’s worried about “the last condo buyer in Toronto;” and everyone’s worried about some kind of bubble the city’s in with more condos going up every day,…
Read moreAnother Look at Privatizing CMHC
When the former Chairman of CMHC, Dino Chiesa, said in an interview last week that government officials were ready to exit the mortgage business, a bit of a stir was raised. While Chiesa didn’t say that CMHC had actually been for sale, he did hint at the fact that it was an option, and that…
Read moreCanadians will Use Tax Refund to Pay off Debt
Remember back in March when we talked about all kinds of tax-saving tips, and how important it was to file your taxes on time – along with of course, all the RRSP talk and all the other March madness that comes to Canada every year? Well the taxes have been filed and lots of Canadians…
Read moreWhy the Condo Boom will Continue, and we Shouldn’t Worry
Canadian home prices are overvalued by about 10%? Try somewhere closer to 54%, according to the Economist. And April was supposed to be a slow month for housing starts with only 204,000 starts predicted nationally? The starts actually equaled 244,900 – a huge increase from the forecast. And if the condo market needs such a…
Read moreIs Debt Fatigue Finally Settling In?
Yet another dose of good news for those who are extremely concerned about our debt in Canada – it seems as though Canadians may be experiencing “debt fatigue.” And one economist on Bay Street has the stats to prove it. It was Benjamin Talk who released a report on Wednesday showing that our debt is…
Read moreShould Minimum Down Payments be Raised to 7%?
The Canadian housing market, and the Canadian mortgage market, is a problem that just about all economists and analysts in Canada have been trying to fix. Homes are overvalued, there are too many of them on the market, and we’re consuming and borrowing at a much faster clip than the federal government would like. All…
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