“Nothing in this world is certain except death and taxes.”
Benjamin Franklin said this in 1789, and it’s just as true now as it was then. There’s just one thing I’d add given that the world has changed quite a bit since the 18th century: interest payments. Maybe not as certain, but just as stressful. If I could revise the quote now, I’d make it:
“Paying interest and taxes will be the death of us.”
Continue reading “Death, Taxes, and Interest Payments: Part 1”
For better or worse, Canadians have a lot of trust. In each other, in their government, in the places they eat, in the places they shop – and apparently in the places they bank. A 2020 survey found that seven out of 10 Canadians believe their banks have their best interest in mind when offering advice. Well, if you’re one of those seven out of 10 people, I hate to burst your bubble… but I have reason to believe otherwise.
Continue reading “Beware of “Friendly” Calls From Your Bank”
In 1990, Canadian house prices plummeted. Quickly too. Between March and September, property values were slashed up to 50% depending on where you lived in the country. A correction like this hadn’t happened for decades prior, and it hasn’t happened since. So why did it happen?
Continue reading “When Interest Rates Go Up, Do Property Values Go Down?”
Last week, I came across an article with this headline:
“Bank Of Canada Will Raise Rates 500% This Year, To Start Within Weeks.”
Pretty scary headline right? The article claimed that there will be five rate hikes of 0.25% this year. Even worse, these hikes will start almost immediately – meaning the first hike will happen at the first Bank of Canada announcement of the year.
That announcement happened yesterday. No rate hike.
Continue reading “Don’t Fear the Rate Hikes”
Well, here we are again. Right back where we were last year. Provinces across the country have reintroduced restrictions that will no doubt leave a lasting impact on our economy. The housing market of course is no exception.
In my estimation, there will be quite a few similarities between our current situation and the one we faced last winter. However, there are some ways in which this lockdown could prove slightly different.
Continue reading “Will Lockdowns Have an Impact on the Housing Market?”