Bank Forecasts Doom, Brokers Aren’t so Sure
Scotiabank has recently come out with a new forecast, saying that the housing market is going to be slow in 2014. This, they say, will be due to factors such as rising interest rates and low housing starts, but at least one broker isn’t so sure that their forecast represents reality. The bank did point…
Read moreCalgary Case Sheds Light on just how Creative Rogue Tenants can Be
Just yesterday we talked about how the big banks are making changes to mortgage applications for income properties. Today though, we look at another problem – rogue tenants, and how landlords can help protect themselves against them. The current case is taking place in Calgary. When Rebekah Caverhill needed to rent out half of her…
Read moreLooking to Buy a Rental Property? Beware of Big Bank Changes
If you’re looking to buy a rental property, you should know about the changes by the big banks. They were introduced a few weeks ago. Of course, you know that in order to be approved for a mortgage, your broker or bank will be looking at your debt-to-income ratio. This will tell them how much…
Read moreCanada’s Arguably Top Economist Says there’s No Housing Bubble
Throw a stick out into the crowd of Canadian economists, and you’ll likely hit at least a few that have been saying that Canada is currently in a housing bubble. And while you can go back and forth with this argument, there’s one economist that says we’re in fact, not in a bubble. And he’s…
Read moreSurvey Shows Boomers don’t have Enough to Retire
Just yesterday we talked about seniors and their debt, and today that focus shifts to today’s baby boomers. According to a new study conducted by BMO, baby boomers don’t have the amount of income they believe they need to retire comfortably. As you can see from the chart above, nearly half – 46 per cent…
Read moreMoney Talks: Volume 43
In last week’s issue of Money Talks, the talk revolved mainly around mortgages. So, we suppose it’s fitting that this week, it’s real estate that’s taking the spotlight. Oh, personal and Canadian finance are in there too, but with all the talk surrounding the market these days, it’s not really surprising to see that it’s…
Read moreWhy are Seniors in so Much Debt?
Just a few weeks ago, we talked about the new Equifax report that showed that retirees were the group to be the most in debt out of all Canadians. Now, some leaders in the industry are speaking out about just why that is. Craig Alexander, chief economist with TD Bank, says that one reason could…
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