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Saturday , 25 March 2017

Monthly Archives: November 2013

Home equity or retirement savings for unexpected expense?

If your child got accepted into an American Ivy League university like Harvard or Yale, where tuitions and costs can be in the $60,000 per year range, would you be able to assist financially? Assuming your child did not have major help with paying, such as a scholarship or grant, and assuming you are not wealthy, what would you do? Typically, parents have two main options when large sums of money are needed for emergency expenses like illness, or for situations that have not been adequately prepared for otherwise, like college education for the kids: they can tap into their retirement savings, or they can take equity out of their ... Read More »

Familiar warnings as Carney reins in UK housing market

When Mark Carney was governor of the Bank of Canada he used to warn Canadians regularly about taking on too much debt, not being able to afford their mortgages if interest rates went up. Now he’s governor of the Bank of England and he has not changed his tune on that score. “Think about the mortgage you are taking on, the debts you are taking on,” Carney said in an interview with The Guardian. “Are you going to be able to service that mortgage five years from now, ten years from now, if interest rates are higher?” But Carney has made the news today not for that rather un-controversial opinion. ... Read More »

Retailers rising to challenge of Black Friday

More and more of us do a significant portion of our shopping online, a fact that leaves the future of traditional retail in some question—Sears, to take just one example in Canada, seems to be on the way out of the market here. But for now, especially at this time of year, shopping malls are crowded. And tomorrow, Black Friday, is one of the biggest shopping days of the year. It’s more an American phenomenon, the “official” launch of the Christmas shopping season following Thanksgiving, but it’s been catching on on this side of the border too. A survey by the Bank of Montreal found that nearly half of Canadians ... Read More »

Tridel “condo kings” of Toronto

One of the more interesting things about Toronto Life’s list of the 50 most influential people in Toronto is who is not on it. We don’t say it’s surprising, but interesting: no Rob Ford. You’d think the mayor of the biggest city in the country would have influence, at least ex officio if not on his own merit. But no, the mayor is absent. Instead, they cheekily put Ford’s nemesis Bill Blair in the number 1 spot of a list of those who “made an impact on our lives” in 2013. The police chief is number 1 precisely because of Rob Ford: the chief investigated the mayor and his cronies ... Read More »

Downsview Park moves forward as new housing deal announced

The re-development of the former Downsview Canadian Forces Base into a grand urban park has certainly moved at a snail’s pace. The plan to create the park was announced just before the turn of the century—1999. Torontonians have been hearing about one plan or another for the place for all those years, and until recently there wasn’t much to show for it. Slowly it seems to be coming together, though not the way many local residents had wanted. There is a subway station at Downsview now, and that’s good. Getting to the place was not that easy before for downtowners, situated way up there at Sheppard and Keele. There are ... Read More »

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