Canada’s a nation of immigrants. It truly is the land of opportunity. Chances are, your parents, grandparents or great grandparents came here from another country.
There are many reasons why people left their homeland. Some left by choice to pursue a better life. Others had to leave for safety reasons. Whatever the reason, most of us have a common goal: A better life.
Homeownership has always been an important part of that dream. We want to own something. We want to plant roots. There’s a pile of statistics to support this claim. In my 28 years in the financial services industry, I can attest to this claim.
Continue reading “Yes, you can still buy a home in Canada… Keeping the dream alive”
I’m often asked why I started this site. It’s simple: I was tired of reading misinformation and twisted truths about mortgage brokering in Canada.
Back in 2009 when I created the site, there were some new blogs reporting on mortgage trends and offering ‘expert’ advice. (I use the term ‘expert’ loosely.) In reality, these sites were full of misinformation. The information was even damaging to the mortgage brokering landscape, in many cases… yet, they were being quoted by our largest newspapers and TV news channels. Wow! How can the major newspapers print this stuff?? It made me angry.
At the same time, there were rate shopping sites being launched. You know the ones… they compare bank, credit union and mortgage broker rates. These sites promised to compare rates, with no strings attached and tell you which provider has the lowest rate. They were supposed to be totally unbiased. They were supposed to be market neutral. Hey, don’t get me wrong, everyone loves to compare, shop and save, right? Comparing is part of being a smart consumer… but there is this huge problem… These sites are NOT unbiased or neutral. These sites are NOT run or owned by independent people.
You would expect a product review site to be neutral and unbiased, right? I mean, it just makes sense. If I want to compare hotels or vacation destinations, I’ll go to a site like TripAdvisor or Booking.com. We can clearly view the best available price and past customer experiences. We wouldn’t expect TripAdvisor or Booking.com to own the hotels or airlines they were advertising. That would be a conflict of interest.
Continue reading “Why I started this site… 400+ articles later”
Much has been written about the Canadian housing market. Even more about greater Toronto and Vancouver. The pessimists are waiting for a collapse. The optimists are hoping the prices keep going up. Then there’s the realists. They would like to see the market slow and maybe even for prices to go down, so that we don’t have a housing bubble. Which one are you?
When it comes to the housing market, I’m a realist.
Every Spring, for the last 10+ years, the real estate market in Canada heats up. Prices increase, they sell faster, and supply can’t keep up with demand. It’s become the norm. In June, July and August, the market gets very quiet and prices go down. That’s right, they actually go down.
This year was no different except for 2 things.. Supply was very low in January, February and March, causing selling prices to jump as much as 20% over last year in some markets. Now, let’s look more closely.. Continue reading “Housing market is active but will slow in summer as it ALWAYS does..”
You’ve seen them before.. but they went silent for a few years. I’m talking about the housing bears. The pessimists that say house prices are too high and will crash. A housing bubble.
Are they right? Maybe. But here’s the thing. We’ve been hearing that house prices are too high for over a decade. One of the more vocal pessimists is David Madani, Economist for Capital Economics.
Madani was on BNN this past week saying we are in a ‘Full blown housing bubble’. Hmmm, that sounds familiar. Let me think… when did I hear that before? Oh, that’s right, 2011. He said, we could see house prices drop by 25% in 2011. And he was completely wrong. (hope you didn’t listen to him). Continue reading “Housing bubble is coming… again?”
The stats are in… House prices are up 6.1% in September compared with Sept 2014. In fact, house prices were up across the country except Alberta, Saskatchewan and PEI.
Now, what’s the first thought that popped into your head? Did you ask, ‘when will house prices collapse or go downs?’. That’s probably what most of us are thinking. The answer is, no one really knows.
The Canadian real estate market has proven to be as resilient as Justin Trudeau. Our new PM took a lot of personal attacks but somehow, he managed to survive and win… a majority govt. (not saying I want or don’t want him there… I’ll keep my personal politics private… for now anyways). Continue reading “Fall 2015 housing market remains hot!”