Monthly Archives: January 2016

Month: January 2016 12 Tips for Buying a Car With Bad Credit

  Your credit history plays a major role in getting approved for a car loan. Unfortunately, buying a car with bad credit is tough, even if you have the income and a stable job history. A history of late payments, high debt, bankruptcy, or repossession is a sign to the lender that you’e at risk of defaulting on your loan payments and the lender wants to avoid the expensive process of repossessing your vehicle. Bad credit doesn’t have to stand in the way of your new set of wheels, but you’ll have to shop a little differently and be prepared

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Month: January 2016 How to use your RRSP to invest in real estate

  As the Canadian real estate market continues to rise, some investors want to put their RRSP money to work in a real estate investment. While there are limitations, there are also several options available to investors. Unfortunately, those looking to buy a rental property with their RRSPs are out of luck. Tax-free RRSP withdrawals of up to $25,000 can be taken under the Home Buyer’s Plan (HBP) to buy or build a qualifying primary residence to live in, but not for a rental property investment. Real estate investment trusts (REITs) are RRSP-eligible investments that pool together income-generating real estate.

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Month: January 2016 RRSPs are about much more than just retirement

  While the word “retirement” makes up one of the four letters in the RRSP acronym, many investors just starting out may not realize that an RRSP can be useful for many things other than post-work income. RRSPs can be used, for example, (1) to generate an emergency source of income after unexpected job loss; (2) to help come up with a down payment to purchase a first home; and (3) to pursue higher education that may lead to a new career. Those are the big three, but there are other uses too, such as (4) holding your own mortgage

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Month: January 2016 Overbuilding on the rise in certain Canadian real estate markets – CMHC

  TORONTO – Overbuilding is on the rise in the Calgary, Saskatoon, Regina and Ottawa real estate markets, according to the latest report from Canada Mortgage and Housing Corporation. The housing agency says it uses two main factors to gauge overbuilding: the rental market vacancy rate and the inventory of completed, unsold units per 10,000 people. “Overbuilding provides an indication of the possible excess supply that could exist in a market,” Bob Dugan, CMHC’s chief economist, said during a conference call Wednesday. “In some cases, a correction in house prices may be required in order to ensure that excess supply

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Month: January 2016 Let’s Talk About The Corporatization of Mental Health

  A subway poster reads: “On January 27, let’s turn [sad face emoji] into [happy face emoji],”—a catchy slogan, but one that simplifies the complexities of mental illness. It’s an ad for Bell Let’s Talk Day, a campaign that seeks to end the stigma around mental health and donate money for the cause. The campaign, which began in 2011, has raised more than $100 million for various research institutes, hospitals, and organizations. It’s a simple and effective concept: For every phone call and text made on the Bell network and for every Bell Let’s Talk hashtag used that day, the company

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Month: January 2016 House-hunting millennials want ‘move-in ready’ homes: survey

  Millennials are entering the housing market in huge numbers. And a recent survey shows that, unlike previous generations, their main priority is finding a home that will need little or no work before they can move in. “Millennials want move-in ready,” said Consumer Reports expert Dan DiClerico. “They want to cook in that kitchen from day one and entertain in that backyard that very weekend.” RELATED STORIES Province to offer rebates for eco-friendly renovations According Consumer Alerts, the right renovations could boost a home’s value by as much 35 per cent. There are more 8 million millennials in Canada

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Month: January 2016 CMHC flags housing market risks in Toronto, Saskatoon, Regina

The federal housing agency says there is a risk of correction in Canadian housing markets in several cities, especially Toronto, Saskatoon and Regina,  because of overvaluation and overbuilding of real estate. Canada Mortgage and Housing Corporation looks at housing markets in 15 Canadian cities every quarter, in an effort to detect housing bubbles. Average Canadian house price up another 12% to $454,342 ‘Frenetic’ price growth to slow in 2016: Royal LePage Cities such as Calgary, Saskatoon, and Regina suffer from both overvaluation and overbuilding, as prices remain high and building continues in face of low oil prices. The level of

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Month: January 2016 Toronto developer defends move to not use designer named in promo materials

  A Toronto developer facing a $6.5 million lawsuit is defending its decision not to use a prominent interior designer, even though brochures about the property used the designer’s name. Freed Developments Ltd., a well-known developer in the city, said in a marketing brochure and on its website that the Six50King building, at King and Bathurst, would have Munge Leung Design Associates as part of the project’s “dream team” of designers. But Munge Leung never worked on the building, something residents didn’t learn until the summer of 2014. “When you find out the great designer was never hired it felt like

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Month: January 2016 Toronto house hunters jumping in to the market early in 2016

  Bosley Real Estate Ltd. agent David Fleming was optimistic last week that his clients had a good chance of surpassing rival bidders for a semi-detached house on Monarch Park Avenue in Toronto’s east end. To his surprise, Mr. Fleming was in a contest with 23 other contenders that night. The start of a new year typically lends a slight edge to buyers in the city’s hyper-competitive real estate market because fewer challengers are out and about. But house hunters in the Greater Toronto Area are more impatient than usual in 2016. “The big issue this year is that more

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Month: January 2016 Price gap between Toronto houses and condos expected to shrink

  The price gap between condos and houses soared 50 per cent last year in the Greater Toronto Area as values of single-family homes skyrocketed, while the condo market flatlined. But industry analysts expect that divide to start shrinking over the next several years as local municipalities green-light several long-awaited low-rise housing projects and the condo market cools off from years of record-breaking construction. Sales of new single-family homes in the GTA jumped 8 per cent last year to more than 19,600, while sales of new condos fell 2 per cent to about 21,600, according to an analysis by commercial

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