First they taxed the foreigners. Then interest rates were jacked up. Finally the Canadian federal government dropped the B-20 bomb. Even with these big three events, housing has continued to be the most sought after commodity in Toronto and Vancouver. Yes, I did say commodity, because over the years it has been treated as such,…
Houses peaked in the Greater Toronto Area in April of this year. Many saw the price gains in excess of 20% year over year to be unsustainable and it was true. When the fundamentals of the economy don’t support the crazy home prices there was bound to be some kind of correction in the prices.…
Recently the Toronto Star spread an article about a woman and her common law partner buying 5 properties in Brantford, Ontario. The goal was to achieve a passive income of $25,000 a month on rent so that they could retire. She had achieved all this, including buying her own home at the age of 33!…
I’ve already written that an epic crash isn’t going to happen, if you’re sitting on the sidelines and hoping for a massive decline, you might be sorely disappointed. Yet there’s growing fear right now in the Canadian housing market. Every day large media centers are reporting huge drop in sales for real estate and an…
You might read last week’s post and think that buying a home is one of the worst decisions you can make. Quite the contrary! Let’s face it. Not all of us want to learn about investments. More so, many people are not patient investors and feel uncomfortable investing in stocks and bonds because quite frankly…
For the young Millennials who have successfully started their careers the single biggest advantage that they have for building wealth over any other generation is time. Yes, it’s time. Unless someone inherits a large swath of cash, or ends up finding a large windfall under their mattress, time is the only thing that will help…
If you had $100K in your bank account and you could afford a home in expensive cities in Canada like Toronto and Vancouver, would you be better off buying a $1050K home with a 2.5% mortgage interest rate or buying a $830K home with a 5% mortgage interest rate given both are on a 5 year fixed-term…
