It may be the hardest time in history to buy a home in this country, according to a new study by RBC economists. Andrew Chang breaks down the data to understand why it’s so much harder today to afford a home than it has been in previous decades, and whether any relief is on the […]
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Why Are So Many Big City Condos Sitting Empty?
In the midst of a housing supply crisis, thousands of condos in Canada’s largest cities are sitting empty. Most, experts say, are less than 500 square feet. Andrew Chang explains why there’s been an explosion of these so-called ‘shoebox’ condos, and why they’re suddenly struggling to sell.
The Mexican Fisherman and Investment Banker Parable
This is a short parable I first read in MoneySense many years ago. I recently thought about it again and searched for it and I want to share it with you. I do think it is such a fantastic parable, especially during these crazy times of higher inflation, higher interest rates to fight inflation, excessive […]
Why Canadian Housing Will Continue to Rise
One reason I’ve stayed out of real estate for a long time is because I keep thinking it’s overvalued. Just watch a video like this and you’ll understand. But, take a look at how much real estate is part of our GDP in Canada. Source: Statista. It’s a huge portion. It’s the biggest portion of […]
How to Live Financially Free
Living mortgage free is only one step to living financially free or secure. You need to develop a strategy if you want to be financially free. The ultimate strategy is earn more income. Sure, you can cut expenses, but, unless you’re making a lot to begin with, you still want to earn more income if […]
Is Living Mortgage Free, Financial Freedom?
Is paying off your mortgage and living mortgage free really like having financial freedom? When you have a mortgage, it may seem like it would be. When you finally pay off your mortgage, you realize it’s not yet financial freedom. But, you’re getting there! Related: How to Pay Off Your Mortgage Faster I’m mortgage free, […]
How to Calculate the Land Transfer Tax in Ontario
Every province and territory in Canada has some tax or fee whenever you purchase a home. You should take this into account with respect to your expenses. Your realtor fees and this land transfer tax are the two biggest expenses after the cost of your home. Mortgage insurance only applies if you’re required to take […]
The Complete Guide to Credit Scores in Canada
What is a Credit Score? Your credit score is a rating assigned to you by the credit bureaus. The rating is between 300 and 900, where 900 is the best you can get and 300 is where you start off. This rating is one factor, albeit a major factor, used to determine whether you can […]