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Saturday , 25 March 2017

Monthly Archives: February 2013

Canadians take “what, me worry”? approach to retirement savings

Many baby boomers aren’t very well prepared for retirement, even those who own their own homes. Homeowners in general have a wider range of investments than non-homeowners, but owning a home does not guarantee that they have set aside enough money to see them through retirement. A lot of them—and remember, this is the wealthiest, smartest, most aware generation in history—do not have a clue how much money they have, or need  to live a comfortable retirement.   These are among the startling findings of a new study titled “Home Equity as a Source of Retirement Income,” prepared for the Investor Education Fund, a Toronto non-profit group. The study set ... Read More »

Homes may be more affordable, but how much can you afford?

With the latest affordability statistics out today showing that home ownership became a little more reachable for many Canadians in the latter half of 2012, it’s worth looking at how an individual can determine whether he or she can afford to buy. The average numbers, based on supposed average incomes across the country are all well and good for providing a snapshot for economists, but what about the individual in the real world? The first and most important number to remember is 32. This is the commonly accepted percentage of your gross income that you can devote to paying for housing, as an owner. You cannot qualify for a residential ... Read More »

Housing became a little more affordable in 2012:RBC

Owning a home in Canada became “mildly” more affordable in the last quarter of 2012 as mortgage costs and home prices declined slightly, and the share of a household’s income needed to pay to own a home shrank. An RBC Economics report released today says that affordability improved in all three categories of home that it tracks: detached bungalow, two-story home, and condominium. The condominium is the most affordable home you can own in Canada. RBC’s affordability index measures the amount of pre-tax income a household needs to pay to cover the basic homeownership expenses, including a mortgage, utility bills, maintenance fees and property taxes. In calculating the index, RBC ... Read More »

Housing market will moderate, then grow again in 2014: CMHC

Demand for new housing in Canada will remain moderate through the first half of 2013, then pick up with “modest” growth as we get into 2014. This is the opinion of the Canada Mortgage and Housing Corporation, in its First Quarter 2013 Housing Market Outlook released today. For this year, there will be 190,300 housing starts in Canada, a drop from the 214,827 homes built in 2012. Employment, economic growth and net migration—the fundamentals—are expected to gain momentum later this year, having slowed in the second half of 2012. This will result in an upward trend in housing starts, though CMHC offers a wide range of forecasts, from 178,600 to ... Read More »

Commercial real estate leaders optimistic, but not too much

Tempered optimism seems to be the best way to describe the outlook of Canada’s top commercial real estate executives, according to the latest survey of current attitudes regarding real estate values and the availability of capital, from REALpac/FPL. On the one hand, fundamentals are strong, and this makes the real estate leaders happy and full of positive thoughts; on the other hand, “lingering uncertainties” make the picture more murky. Is there ever a time, one has to wonder, when there are not “lingering uncertainties”? Those strong fundamentals they speak of include the ready availability of both debt and equity capital, strong asset prices, and good vacancy/occupancy numbers. All of these ... Read More »

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