Perhaps the question that everyone wants to know is how are Canadians affording homes that are so expensive when compared to the standard average salary in the city they live in? Regardless if the housing market is in decline like Calgary or Vancouver, or steaming hot like Toronto, Halifax and Montreal, house prices in Canada…
Over the last decade the S&P 500 has pretty much quadrupled. The Canadian TSX has doubled in that time, while the remaining rest of the world would have returned roughly 50%. A bond index would have returned 60% compounded with interest. Those are quite phenomenal numbers. In fact if you had held a portfolio mix…
Canadians love real estate. Let’s face it we’re all infatuated by it, but sometimes we have to question our desires to see if buying is actually better than renting at a financial level. I’m a true believer that you can’t put a price on emotions. That’s why if your heart and life goal is set…
A recent article came my way that was titled “Self-made millionaire: Not buying a home is the single biggest millennial mistake“. This is supposed to make the Millennials rush out the door and buy a home. Make no mistake the author of the article makes very good points. If you’re renting you’re just throwing money…
The million dollar question that every Millennial wants to know is “how much house can I afford?” That’s because despite the high prices in two of Canada’s major cities, the majority of Millennials still want to buy a home. With house prices rising much faster than income in their respective cities, just how much can…
In a recent article I wrote how buying a house could end up throwing away just as much money as renting. That’s because buying a house with a mortgage is exactly like renting, only rather than renting a place to live, you end up renting the money to buy the place. Quite interestingly, someone rebutted…
It’s time for another comparison of rent vs buy. It’s not that I condone buying a house, but in ultra expensive cities in Canada like Vancouver and Toronto, all the arguments of buying over renting have become myths. The popular saying that you are throwing your money away renting is getting harder and harder to…
