Showing Tag: "housing" (Show all posts)

BNN: How a tsunami of inheritances could ease Canada’s housing market pain

Posted by Jackelyn Ford on Friday, June 17, 2016,
http://www.bnn.ca/News/2016/6/6/How-a-tsunami-of-inheritances-could-ease-Canadas-housing-market-pain.aspx
Greg Bonnell | June 6, 2016

A record wave of inheritance will transfer billions in wealth over the next decade, taking some of the sting out of the real estate market for young Canadians, CIBC’s deputy chief economist said Monday.

In his report “The Looming Bequest Boom – What Should We Expect?”, Benjamin Tal argues more than $750 billion will be transferred to Canadians between the ...


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BNN: Scotiabank CEO calls on Ottawa to raise down payment rules again

Posted by Jackelyn Ford on Wednesday, June 1, 2016,
http://www.bnn.ca/News/2016/5/31/Bank-of-Nova-Scotias-CEO-calls-on-Ottawa-to-raise-down-payment-rules-again.aspx
Jameson Berkow | May 31, 2016

Brian Porter argues the federal government must intervene further if it hopes to slow the rapid rise of real estate prices in Canada’s two hottest housing markets.

The chief executive of Bank of Nova Scotia told BNN he is “a little concerned” about price activity in Vancouver and “maybe pockets” in Toronto, where the average price of a home has ...


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Globe & Mail: You made how much selling your house

Posted by Jackelyn Ford on Sunday, February 22, 2015,
http://m.theglobeandmail.com/globe-investor/personal-finance/mortgages/you-made-how-much-selling-your-house-you-sure-about-that/article22410703/?service=mobile
Preet Banerjee | January 22, 2015

Ever hear someone tell you they bought their house for peanuts and sold it for a small fortune? If it sounds too good to be true, sometimes it is. Many people conveniently forget to factor in real estate agent fees, mortgage interest, maintenance, property taxes, and more. The actual gains are quite a bi...


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GG Finance: Oh Canada! Our home & expensive land

Posted by Jackelyn Ford on Friday, June 27, 2014,
http://goldengirlfinance.com/inspiration/?post_id=1629
Golden Girl Finance | July 15, 2013 

The high cost of being Canadian

The True North may be strong but it isn’t exactly free. At least, not from a household finance perspective.

Last winter, a British economic research group concluded that the cost of living in the UK is 11% higher than the international average and 18% costlier than living in the United States.

No surprise there, right? We have all heard stories or had our own experiences of...


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Financial Post: Bank of Canada can afford to put off rate hike until 2015

Posted by Jackelyn Ford on Thursday, May 8, 2014,

http://business.financialpost.com/2013/11/27/bank-of-canada-can-afford-to-put-off-rate-hike-until-2015-imf/
Gordon Isfeld | November 27, 2013

OTTAWA — First, the good news.

Canada’s economy will accelerate in 2014 — clocking in at a pace of 2.25%, easily overtaking this year’s modest growth of nearly half that, according to the world’s largest lending organization.

Homeowners feel the pinch of rising prices, mortgage rates

RBC’s latest research on how much income is needed to maintain ...


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HW: 3 things to know about interest rates in 2014

Posted by Jackelyn Ford on Tuesday, March 4, 2014,
http://www.housingwire.com/articles/28551-things-to-know-about-interest-rates-in-2014
Trey Garrison | January 10, 2014

Interest rates will go up. Or they will stay the same. One of those two things will definitely happen in 2014, economists say, and some lenders and investors may have trouble adjusting to the change.

"We think rates are generally headed up. We have a growing economy both here and aboard,” said Mike Fratantoni, chief economist for the Mortgage Bankers Association (MBA). "We’r...


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BNN: Canadians in top 1% earn 7 times national median

Posted by Jackelyn Ford on Tuesday, March 4, 2014,
http://www.bnn.ca/News/2013/9/11/Canadians-in-top-1-earn-7-times-national-median-Survey.aspx
Bill Curry | September 11, 2013

Canadians in the top one percent are paid more than $191,000 a year according to the National Household Survey, which takes a closer look at how governments take from the rich and give to the poor.

The make-up of the one percent club is overwhelmingly male, most-likely over the age of 45 and tends to work in management jobs. Canada's top earners are also more likely to m...


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Castanet: What Canadians earn

Posted by Jackelyn Ford on Thursday, November 14, 2013,

http://www.castanet.net/news/Canada/98220/Stats-What-Canadians-earn
The Canadian Press | Sept 11, 2013

Statistics Canada's third and final release of 2011 National Household Survey data illustrates, among other things, how much Canadians have been earning and where they have been living. Some highlights:

  • Fully one-quarter of Canadian households, about 3.3 million, spent 30 per cent or more of their total income on shelter, exceeding the Canada Mortgage and Housing Corporation's "affordability th...


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Globe & Mail: Why renting can be the right choice for aging boomers

Posted by Jackelyn Ford on Tuesday, March 6, 2012,
http://www.globeadvisor.com/servlet/ArticleNews/story/gam/20110628/GICARRICKCOLUMNCARRICKATL

 Rob Carrick, The Globe and Mail | June 28, 2011 

 Sell your house and rent: If you're a baby boomer entering retirement, that could be the financial move of a lifetime.

The case for selling the family home starts with the fact that years of strong price increases have hugely increased the value of homes across the country over the amount paid for them. What to do with the proceeds after you sell? Invest...


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BNN: Economist says housing prices to fall 25%

Posted by Jackelyn Ford on Monday, October 3, 2011,
http://www.bnn.ca/News/2011/10/3/US-manufacturing-sector-grows-faster-in-September.aspx

Reuters | June 6, 2011

Building permits posted an unexpected 21-percent decline in April. BNN speaks with David Madani of Capital Economics about the data – and his belief that the Canadian housing market is set for a 25 percent pullback in prices.

BUILDING PERMITS DECLINE

The value of building permits issued in Canada in April unexpectedly plummeted 21.1 percent from March on weakness in the powerful pro...


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BNN: Debt reduction versus RRSP contributions

Posted by Jackelyn Ford on Tuesday, March 1, 2011,
http://www.bnn.ca/News/2011/2/4/Debt-reduction-versus-RRSP-contributions.aspx
Dale Jackson, BNN.ca staff for The Globe and Mail | February 4, 2011

Canadians are another RRSP season older – and deeper in debt.

In 2010 we owed $1.48 for every dollar we earned, up from $1.45 the year before. According to the Ottawa-based Vanier Institute of the Family we’ve climbed high on the debt mountain: In 1990, the figure was 90 cents.

What’s worse, these figures tell only part of the deb...


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BNN: Canadian commercial real estate reborn in 2010

Posted by Jackelyn Ford on Tuesday, March 1, 2011,
http://www.bnn.ca/News/2011/2/14/Canadian-commercial-real-estate-reborn-in-2010.aspx
Steve Ladurantaye, The Globe and Mail | February 14, 2011
The commercial real estate market saw an unprecedented recovery last year, with investment growing 48 percent as the economy improved and investors returned to the market.

Canadian commercial real estate volume reached $18.9 billion in 2010, according to CB Richard Ellis, from $12.7 billion in 2009. That’s close to the pre-recession peak of $19.8 ...


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BNN: Flaherty details new mortgage rules

Posted by Jackelyn Ford on Monday, January 17, 2011,
http://www.bnn.ca/News/2011/1/17/Flaherty-details-new-mortgage-rules.aspx
Bill Curry and Grant Robertson, The Globe and Mail | January 17, 2011

Concern over rising consumer debt levels is prompting Ottawa to make three new changes to Canada's mortgage rules.

Finance Minister Jim Flaherty announced Monday that new federal rules will reduce the maximum amortization period to 30 years from 35 years for government-backed insured mortgages with loan-to-value ratios of more than 80 percent.

Secon...


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BNN: Experts see more trouble for U.S. real estate

Posted by Jackelyn Ford on Monday, January 17, 2011,
http://www.bnn.ca/News/2010/10/6/Experts-see-more-trouble-for-US-real-estate.aspx
Reuters | October 6, 2010

Commercial real estate is where the action will be next year, restructuring and bankruptcy experts said at the Reuters Restructuring Summit summit on Wednesday.

"I call it a slow-motion train wreck," James Sprayregen, a restructuring partner at law firm Kirkland & Ellis, said in New York. "That's probably where I think you're going to see more action than anything over the n...


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BNN - U.S. home building market recovers

Posted by Jackelyn Ford on Monday, October 4, 2010,
http://www.bnn.ca/News/2010/9/21/US-home-building-market-recovers.aspx
Reuters - September 21, 2010

U.S. housing starts increased more than expected in August to their highest level in four months and permits for future home construction rose, government data showed on Tuesday, suggesting the embattled housing market was starting to stabilize following the end of a tax credit.

The Commerce Department said housing starts rose 10.5 percent, the largest increase since November, to a seasonall...


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BNN - August Home Resales Jump

Posted by Jackelyn Ford on Monday, September 20, 2010,
http://www.bnn.ca/News/2010/9/15/August-home-resales-jump.aspx
Reuters - September 15, 2010

Sales of existing homes in Canada in August rose 4.1 percent from July, the first monthly increase since March, the Canadian Real Estate Association said Wednesday.

The industry group said 32,807 homes changed hands in August, with most of the monthly gains concentrated in the two biggest markets, Ontario and British Columbia, a reversal from the previous month. Compared with a year earlier, sales w...


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BNN - New home prices dip slightly

Posted by Jackelyn Ford on Tuesday, September 14, 2010,

Reuters - September 09, 2010
New home prices edged lower in July for the first time in 13 months as a new tax regime took effect and the once-hot housing market continued to cool, according to Statistics Canada data released on Thursday.

The new housing price index slipped 0.1 percent in July, while analysts in a Reuters poll had forecast a 0.1 percent increase. Home prices climbed 0.1 percent in June.

Statscan said the introduction of a new sales tax in July in Ontario and British Columbia...


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Globe&Mail - Housing: Bubble or no bubble?

Posted by Jackelyn Ford on Thursday, September 9, 2010,

Tavia Grant, The Globe and Mail - September 08, 2010
As Canada's housing market softens, the question for many homeowners is how much prices might decline. The Conference Board of Canada waded into the debate Wednesday, saying there will not be a "free fall" in the market but rather a pause in what has been, in recent years, rapid price increases.

The comments come on the same day the Bank of Canada  raised its key lending rate for the third time in a row, though it cautioned that further i...


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CBC Marketplace: In Denial

Posted by Jackelyn Ford on Wednesday, January 27, 2010,
http://www.cbc.ca/marketplace/in_denial/

In Denial
February 6, 2008

If you have a mortgage on your home, chances are good you also have mortgage insurance. The idea is that if you should become seriously ill or die before paying off the mortgage, the coverage will kick in and pay it off for you. It’s meant to offer peace of mind and to reassure you that your family will be able to stay in your home if anything should happen to you.

T...


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About These Articles


Jackelyn Ford These articles have been chosen because they provide a macro view of the financial world. This wide scope of articles can then be applied to aid your own personal financial situation. E.O.E.