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You will never see a U-Haul following a hearse

I'll say it again. You'll never see a U-Haul following a hearse!

You will never see a U-Haul following a hearseThat’s right, I’ve said this before, and will say it again.

Our lifecycle goes something like this… Go to school. Find a job (and work hard for 40 years). Fall in love. Get married. Save money. Buy a house. Start a family. Retire on enough pension or savings. Enjoy the results of your hard work. Live in your house until death. Leave the house for your kids.

This is how most of us envision a normal lifecycle. But how often does this really happen? How many people really live happily ever after? What’s the big deal about tapping into home equity to fully enjoy life?

Continue reading “I'll say it again. You'll never see a U-Haul following a hearse!”

The State of Homebuying in Canada 2019 CMHC Mortgage Consumer Survey

Significant decrease in first time home buyers in 2019

Canada Mortgage and Housing Corporation released The State of Homebuying in Canada report on November 15, 2019, with a few key findings, including this headline. 

The annual State of Homebuying in Canada report noted that 56% of all purchasers were first time buyers in 2018. This dropped to 47% in 2019.

The tightening of mortgage rules which has been taking place over the last 4 years is certainly having an effect. The never ending rule changes were intended to slow home sales and prices. But like most government interventions, its had the opposite effect.

Continue reading “Significant decrease in first time home buyers in 2019”
Get a secured line of credit while you can qualify.

My advice is simple: Over 50? Get a secured line of credit while you can qualify.

Get a secured line of credit while you can qualify.

Contrary to media reports about our ‘record personal debt levels’, it’s extremely prudent to ensure you have access to emergency money.

The line of credit popularity that took place in the ’90s wasn’t a bad thing. It allowed us to borrow at low rates to invest or spend as needed. Many successful investors have been doing this for decades. Borrowing to invest makes smart financial success. Don’t let anyone tell you differently.

We’re seeing more reasons for Canadians to get a secured line of credit now: Age; Income; and Qualification.

Continue reading “My advice is simple: Over 50? Get a secured line of credit while you can qualify.”

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