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Wednesday , 29 March 2017

Monthly Archives: August 2014

Crowdfunding the down payment: latest trend for young home buyers

Given the choice between a splashy wedding and a down payment on a new home, more than a quarter of young Britons would take the down payment. The average wedding in Britain today costs £20,000 ($36,780) and a new survey from the London-based bank HSBC found that very few young people are willing to spend the whole amount. They would rather cut the number of guests invited, hold the reception at a less expensive venue, and take a cheaper honeymoon, putting the money saved toward a down payment on a home. Most couples cut the wedding budget by up to a quarter so that they can put the money toward ... Read More »

Seniors real estate specialists: a growing niche market in Canada

Imagine how you would feel if, after living in your beloved home for decades, you were forced to admit that you could no longer manage it on your own. To make matters worse, you have no immediate family or trusted friend to help you. You really are on your own, and you are very frightened. How are you supposed to cope with the upheaval of selling your home, finding a new place to live, and moving? What will you do with all the furniture, the lifetime’s accumulation of mementoes, the dishes and kitchen wares you no longer need? How will you handle the paperwork? With all the money that’s involved ... Read More »

Strong housing market gives private mortgage insurer a good Q3

The biggest private mortgage insurer in the country, Genworth, has reported third-quarter net income of $97 million, and an increase of 17 per cent in mortgages insured, compared to a year ago. The company also announced a dividend of $0.35 per common share for its third quarter, to be paid at the end of August. As well, the company reported an unusually low loss ratio of 12 per cent, its lowest in seven years. Though acknowledging that that level won’t hold, Genworth CEO Brian Hurley told BNN that the housing market is in “pretty good” shape. “You have a good housing market, very good borrowing demographics, and very good borrower ... Read More »

Retailers demanding lower swipe fees on credit card use

A coalition representing more than 90,000 small and medium size businesses in Canada is promising that consumers will benefit if the federal government takes steps to reduce credit card swipe fees in this country. The Small Business Matters Coalition was formed specifically to deal with the “burden” of swipe fees, the charge that merchants must pay every time a customer pays for something with a credit card. According to a statement from the group, these fees are a threat to the survival of many small businesses, as they cut into the “already slim margins” the small business owners operate with. The coalition says that Canada’s swipe fees are among the ... Read More »

The Supreme Court of Canada Decision on Public Disclosure of Home Selling Prices Sends Case Back to Competition Tribunal

Wherever you stand on the hot topic of public disclosure of home selling prices by the Toronto Real Estate Board (TREB), you’ll have to wait for a decision. The Supreme Court of Canada, last week, decided not decide. Instead, they sent the case back for a new trial in front of the Competition Tribunal. The Tribunal originally threw out the case brought by the Competition Bureau because it felt that TREB was not competing with anyone. The case defies logic, perhaps, but not interest. Interested parties fall into two main camps—the democratization of information camp, who want full disclosure of information, and TREB, who claim the information is private. The ... Read More »

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