Real Estate

The big suck

Karen’s discovering GreaterFool Rule 4. Just in time. Widowed, 63, retiring in 14 months, single, two adult children (far away) and a pension, “that won’t attract flies, it’s so bad.” But she won the birth lottery and lives in the same home she and Dan bought a few decades ago. These day ...

Tech Talk for Wednesday July 18th 2018

Pre-opening Comments for Wednesday July 18th U.S. equity index futures were lower this morning. S&P 500 futures were down 3 points in pre-opening trade. Index futures were virtually unchanged following release of the June Housing Start report at 8:30 AM EDT. Consensus was a slip to 1.32 million un ...

Rebel, rebel

Barry called yesterday. Out of the blue. “Blog reader,” he said. Of course those two words allow anyone into the magic Kingdom of Garthonian wisdom. So, I said, whatsup? “My TD bank guy tells me I can’t set up a mortgage inside my RRSP. He says CMHC just changed the rules so only new house ...

Do Canadian expats have to pay income tax?

Q: I am Canadian citizen living in Pakistan since 2002. I have no home or family in Canada. I do not take any Canadian benefits for myself or for my family. Q1) Do I have to file income tax and wealth statements in Canada? Q2) If I ever plan to come back to Canada, will I have to pay tax on money ...

The bloodbath

Toronto Jeff follows this blog and, as you can see below, has a small history with me. But we’ve never met. Good thing. I’ll tell you why after you read the following. Long-time reader, big fan. Curiously, I used to be an intern at the PMO during your rebellion (which I agreed with BTW), and ...

Market Update. Economy is hot, even as trade talks freeze over

Donald Trump has trolled US trade partners with tariff talk, but the market still has plenty of true believers. Or, as I put it to the Globe & Mail shortly before Canada Day, “Despite trade tensions, the global economy is robust… We are in the midst of a prolonged equity bull run.” Yes, t ...

Canadian home sales activity improves in June

Ottawa, ON, July 16, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales were up from May to June 2018. Highlights: National home sales rose 4.1% from May to June. Actual (not seasonally adjusted) activity was down 10.7% from June 2017. The nu ...

Tech Talk for Monday July 16th 2018

Pre-opening Comments for Monday July 16th U.S. equity index futures were mixed this morning. S&P 500 futures were unchaged in pre-opening trade. Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for the July Empire State Manufacturing Survey was a ...

Should I?

At 48, Tyler should be a rock star. Engineer, two kids, a 2017 3-series, paid-off house he figures is worth $1.2 million. Happy wife, too. Even a Softail. All’s good. But Tyler worries. Otherwise, why write me? “I may have screwed up,” he says. “For the last seven years I did what Sharon w ...

The unplan

The cost of money may have just crawled to a 9-year high, but it’s not all misery out there for borrowers. While banks were busy resetting rates higher yesterday after the latest BoC hit, one of them was cutting. So if you’re shopping for a variable-rate mortgage, check out TD. Effective Frida ...