Economic and Financial News 
Dave Greenwood shares news about our Economy and Financial Status...
There are currently 14 blog entries related to this category.
Would you sell your home to lock in profits before real estate prices drop?
Monday, May 14th, 2012 at 4:45pm. 32 Views, 0 Comments.
OTTAWA — For most Canadians their home is the biggest investment they’ll ever make — but they might be surprised to learn you can use if for more than just sleeping.
People generally don’t think of their homes as a potential pile of cash in the bank, but experts say it’s something worth pondering now that home prices in Canada may have hit their peak.
In fact, analysts say if finance is the only consideration, conditions now and into next year or so form a seldom seen sweet spot for using home equity as a type of asset for investment.
Why might it be a good time to sell?
At about $370,000 average nationally — and just under $800,000 in Vancouver — home prices are already at record levels. Many observers believe prices are long…
Calgary's northern limits target of retail growth
Monday, April 30th, 2012 at 2:31pm. 69 Views, 0 Comments.
The amount of real estate development within Calgary and just north of the city limits is quite amazing - particularly in the area east of CrossIron Mills shopping centre.
The shopping centre has done well since it opened in 2009, now boasting 200 stores made much more accessible since the opening of Stoney Trail.
Since then, more shopping opportunities are available at Costco and Lowe's to the north of the original centre up to the intersection of the north/ south major corridor and Highway 566 at Balzac.
I hear that the adjacent lands planned as a thoroughbred racetrack and entertainment centre may still be developed with a less-grand vision, but still to include a hotel and casino.
Immediately to the east along 566 is the new Coptic Church…
“Grandma, is that you?”: CBA provides advice on how to avoid the grandparent scam
Wednesday, April 18th, 2012 at 12:07pm. 29 Views, 0 Comments.
Grandparents love to receive calls from their grandchildren, but if you hear the words “Grandma, is that you?” at the other end of the line, beware; it may be a scam.
March is Fraud Prevention Month and the Canadian Bankers Association (CBA) is helping Canadians educate and protect themselves against fraud and scams as a member of the Fraud Prevention Forum by working with banks and law enforcement across the country.
Criminals have set their sights on seniors with grandchildren, using a particularly malicious trick known as the “grandparent scam”. A senior will receive a phone call from someone who starts the conversation with, “Grandma? Do you know who this is?” The victim, thinking it’s one of their grandchildren, will respond…
ATB Weekly Economic Bulletin: 13-APRIL-2012
Friday, April 13th, 2012 at 1:03pm. 66 Views, 0 Comments.
Don't Wait Until RRSP Deadline: CIBC
Wednesday, February 1st, 2012 at 10:13am. 123 Views, 0 Comments.
In a growing trend, on the cusp of RRSP season, yet another poll shows that Canadians, by and large do not feel prepared for retirement.
Furthermore, many do recognize the link between retirement success and developing and implementing strategy: “Planning ahead makes a significant difference, according to the poll - among Canadians who say they have a long term investment plan for retirement, 76 per cent say they are financially prepared for retirement, versus just 25 per cent among those who don't have a plan.”“Planning for retirement is something almost every Canadian thinks about at this time of year, and our poll results show that many would like to be further ahead when it comes to their retirement plans," commented Christina Kramer,…
Locking in never looked better
Monday, January 16th, 2012 at 5:55pm. 93 Views, 0 Comments.
Long-term mortgage rates have dropped to the lowest point in Canadian history — and the stampede to lock in is expected to pick up.
Bank of Montreal became the first major Canadian financial institution to bust through 3%, with its 2.99% closed fixed rate mortgage for five years. Others are sure to follow.
If five years isn’t long enough for you, ING Direct has weighed into the current mortgage discussion with a 10-year fixed rate product at 3.89%. The added bonus of going longer than five years is that under Canadian law after half a decade you can break your mortgage for as little as three months’ interest.
TD Canada Trust, which had already lowered rates on six and seven-year fixed rate terms, now has lowered the four-year fixed rate to…
Gary Clement's Top 10 Cartoons of 2011
Monday, January 2nd, 2012 at 12:48pm. 108 Views, 0 Comments.
It was the best of times, it was the worst of times. But mostly, it was the worst of times. Natural disasters, civil unrest, bloody suppression, financial catastrophe, political shenanigans, sexual indiscretion, 2011 had it all and then some.
It made my life as a cartoonist pretty easy, as all these events readily lend themselves to satire and mockery. Except for natural disasters.
After the jump, Gary Clement picks his top ten of the year.
http://fullcomment.nationalpost.com/2011/12/26/gary-clements-top-ten-cartoons-of-2011/
Calgary apartment vacancy rate on the decline
Tuesday, December 13th, 2011 at 3:42pm. 168 Views, 0 Comments.
Canada Mortgage and Housing reports Calgary's vacancy rate slipped below the 2 per cent mark in October, down almost two full percentage points from the same period a year ago.
A strong economy attracting job seekers is getting most of the credit.
The Executive Director of the Calgary Residential Rental Association tells 660News, landlords have been closely following the drop.
Gerry Baxter says despite the decline in rental units, rents are not expected to rise any time soon.
Baxter says landlords will let market forces dictate rents moving forward, predicting only minor increases to cover higher operating costs.
He says over the course of the year there is a 40 per cent turnover in renters in the city.
The future of organized real estate
Friday, November 25th, 2011 at 3:09pm. 117 Views, 0 Comments.
Aldous Huxley wrote Brave New World in the 1930s. It is a fiction about society in the future, where children are raised in hatcheries and societal dogma is ingrained by sleep learning. George Orwell, a decade later, began writing 1984, eventually published in 1949. It too imagined a future society, one of mind control and thought police. And yes, sex played a huge role in both novels, which partially explains their presence on my university reading list. That and they were mandatory! And before you can insult my age, yes, they were recent.
In 2010, your national association, CREA, began writing the scripts of four scenarios for the future of organized real estate (ORE). (I wonder if anyone has defined or discovered “disorganized real estate”.) In…
Housing market still economy’s ‘bright spot’
Thursday, October 27th, 2011 at 2:49pm. 83 Views, 0 Comments.
Existing home prices in Canada continued to increase last month, although the gains recorded were the smallest since January.
The Canadian Real Estate Association said the average price of a home sold in September was $352,581, a 6.5% jump from a year earlier.
The continued strength of the market in the face of a battered world economy was on display last month as sales rebounded from August, increasing by 2.7% on a seasonally adjusted basis. For the first three-quarters of the year, existing home sales are now 1.2% ahead of last year’s pace.
The Ottawa-based group, which represents about 100 boards across the country, said new listings have been flat for two months and markets have tightened but all signs indicate most jurisdictions are still…